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Olympia Markets Review 2020 – All You Need To Know
As a relatively new forex broker, Olympia Markets had its work cut out if it wanted to penetrate the saturated online financial assets brokerage industry. And it has done so well. With only a couple of months in the industry, Olympia Markets is now a recognised and established brand, popular among global online traders and investors. This leading broker has managed to achieve such recognition by offering exceptional trading services and practically, the ultimate trading experience available in the market.
We took every word we heard about Olympia Markets with a pinch of salt and decided to test them out ourselves, with real money. We have put together a comprehensive review of the broker after assessing all the important parameters any trader should look out for before investing any real money with any company.
Olympia Markets Broker Review – Know the Facts, Trade with Confidence
In order to ensure that you have peace of mind that you are trading with a leading, reputable broker, we have personally reviewed the broker by opening a live account and by testing their services and features. We have provided detailed, honest and unbiased information and have also included real user reviews so you can gain some real insight into Olympia Markets and what they have to offer.
What Makes Olympia Markets Unique?
Olympia Markets is a trader-centred broker, designed to ensure the success of both new and experienced traders. There are suitable account types for all levels of traders as well as numerous educational materials to ensure every investor keeps abreast with the changing trends in the markets. Olympia Markets is also the first retail broker that features a cloud-based trading platform that ensures real-time execution of all your orders in the market.
The platform is feature-packed to enhance your trading activity, while every trader is assigned a personal manager at his/her beck and call, round the clock. With also a streamlined payment processing system and strict commitment to security of client funds, Olympia Markets is not just unique, but a special broker for the modern broker.
Olympia Markets Experience Test
As mentioned above, we subjected Olympia Markets to a series of tests to determine if it was worth our time and money. Our first test was support, because when trading either as a new or experienced broker, you should have some questions. We submitted our contact details directly on their site and received a response within an hour. We were actually called and our engagement with the staff was very professional. There were no automated or robotic responses, and the support agent patiently answered all our questions. A friendly support goes a long way to enhance your trading experience.
Our second test was the withdrawal process. Many brokers will gladly accept your deposit, but it will be a great deal of hassle when you want to withdraw your money or profits. We made the minimum deposit of 250 euros, and shortly after requested a withdrawal, even before making any trades. The process was simple and straightforward. Our withdrawal request was process within 24 hours, and the money reflected on our end within 5 business days.
The last test was order execution on their platform due to their claim of using a cloud-based trading platform. We were pleasantly surprised. Orders were executed instantly with no slippages or re-quotes. Fast execution is very important when trading online financial assets because small price fluctuations can be the difference between profits and losses in any given trade.
Olympia Markets passed our primary tests admirably and we can confidently recommend them as your brokerage partner.
Is Olympia Markets Scam or Legit?
We performed a thorough scam test on Olympia Markets, and we can independently verify that they are a legit broker offering fair and transparent trading services to online financial assets traders. Transparency is a key attribute of Olympia Markets and they have a full page on their website dedicated to Risk Disclosure. On the page, they have discussed all the risks associated with online financial assets trading such as market liquidity, market swings and volatility. There is also the anti-money laundering (AML) and KYC (know your customer) pages which detail the efforts the company is taking to adhere to international financial regulations and protocols. Such transparency is characteristic of a legit broker.
A major scam associated with brokers is the manipulation of trading platforms to disadvantage traders. This can be in the form of widening spreads, so traders incur larger trading costs or the distortion of prices, so traders are unable to get precise entry or exit points. As mentioned above, Olympia Markets’ trading platform is cloud-based, and this was not an issue when we tested the platform actively after depositing money.
Another popular scam is identity theft. Due to various KYC policies and for the purpose of processing your withdrawals, brokers usually collect personal information of their clients. As clearly stated on their site, Olympia Markets does not share this information or sell to any entities that may use it commercially or otherwise. All private customer information is never compromised and remains confidential at all times.
Olympia Markets Regulation and Safety of Funds
Olympia Markets is a brand of Yield Enterprise Currency Software OÜ, a firm duly registered and headquartered in Estonia. Estonia is one of the few countries that have deepened regulation in online financial assets trading. With Estonia part of the European Union, it means that Olympia Markets operates according to MiFID II (Markets in Financial Instruments Directive), whose stated objective is to increase transparency across EU’s financial markets as well as to promote greater protection of investors.
Security is of paramount importance at Olympia Markets. The broker utilizes superior technology to ensure all transactions done on its website are safe and secure. All payments are managed through the industry best Level 1 PCI international payment service, while all actions throughout their site are encrypted using the latest 128 SSL encryption. Furthermore, Olympia Markets holds all client funds in segregated accounts that are completely separate from their working capital. This ensures that client funds will always be safe even in the unlikely eventthat the broker closes shop.
Olympia Markets clients have a choice of 3 account types when they sign up to trade with them. Unlike most brokers, the accounts are not tiered up in terms of deposit amounts (where the higher the deposit, the better the privileges) but rather designed to meet the different needs of diverse traders.
The account types are:
This account is for the investors who wish to trade on their own and experience the world of online financial assets trading first-hand. With this account, you can open, manage and close trades manually as you wish. This account is suitable for experienced traders who prefer to implement their own manual strategies in the market. New traders who like to watch the charts and trade manually, can also choose this account type.
If you wish to take advantage of the most advanced predictive technology available, then Robot Trader is the account for you. This is basically an account for all the traders that wish to implement automated strategies in the market. Experienced traders who have coded their trading strategies or new traders who have bought working automated strategies will find this account type the most practical and convenient for them.
This is essentially a social trading account. With this account, you can copy the trades of the best performing traders on the Olympia Markets trading platform. You can choose the traders to follow or copy and their trades will be replicated in your trading account. You basically have the unique opportunity to feed on the success of others. This account is suitable for inexperienced traders who wish to earn money, while still learning their own strategies.
No matter the account type you choose, you will be guaranteed access to over 400 tradable financial assets, superb trading conditions, an advanced trading platform, free comprehensive training, and all other trading services without discrimination.
Olympia Markets Trading Conditions
Here are the trading conditions available at Olympia Markets:
- All times are in GMT+2.
- Fixed spread instruments are traded with Instant Execution (Fill or Kill), which ensures price guarantee. There may be re-quotes if price changes.
- Floating spread instruments are traded with Market Execution (Click and Deal). This means no re-quotes, even with price changes- you will be filled at the new price.
- Basic leverage is 1:100. You can trade up to a leverage level of 1:500.
- Trading swaps apply at 2400hrs GMT+2.
- Exotic currency pairs may be limited during periods of low or high volatility.
- Stop Out level is 0%. No negative balance.
- In case of a restriction on your trading account, all open trades will be closed until all verifications are completed.
To ensure that we have covered everything there is to know about the Golden Profit software, we have added a short frequently asked questions section. You can also contact Golden Profit directly and they will assist you with all your questions and queries.
Fees and Spreads
Olympia Markets offers traders minimal trading fees, so they keep their trading costs low and boost profitability. On major currency pairs such as the EURUSD pair, there is a fixed spread of 3 pips, while on cross pairs such as the CADJPY, there is a fixed spread of 6 pips. On exotic currency pairs such as the USDZAR; commodities such as gold; indices such as the FTSE 100; and stocks such as Facebook; Olympia Markets applies a floating spread. This ensures that during periods of high market liquidity, the spreads will be lower; whereas during low volatility periods, the spreads will be relatively higher.
Account Opening Experience
Account opening at Olympia Markets is simple, quick and straightforward. If you are of legal age (18 years and above), simply click on the ‘Sign Up’ button on the top right of the Olympia Markets homepage. You will need your Name, Email and your preferred password to register. You will then receive an automated email from Olympia Markets that will prompt you to confirm your email address. The automated emails are for security purposes to ensure all actions associated with your account were made by you.
After confirming your email, you will be able to log into your Olympia Markets trading account. To start trading, you will be required to deposit into your trading account. You can browse through the available deposit options to choose which method is convenient for you. The whole account opening experience should be done in less than 2 minutes.
At Olympia Markets, traders can open up to 10 different accounts.
Deposits and Withdrawals
Olympia Markets operates a streamlined payment processing system that allows traders to deposit or withdraw funds from their trading accounts easily, safely and conveniently.
To deposit into your trading account, simply follow these steps:
1) Log into your Olympia Markets trading account
2) Click on the ‘Deposit’ button
3) Choose your preferred payment method
4) Click ‘Confirm Deposit’ and start trading your favourite financial assets.
The methods available for deposit are:
Credit and Debit Cards
You can deposit funds into your Olympia Markets trading account using major cards such as Visa, MasterCard and Maestro. Cards are a popular and convenient payment method for most traders and at Olympia Markets you can begin trading immediately as soon as you make a successful card payment. The minimum deposit with this method is €/£250. Traders may use multiple cards to deposit funds into their trading accounts. For security purposes, the maximum deposit amount using cards is €/£30000 per month.
In regions where cards are not an option or are inconvenient, Olympia Markets also supports Bank Wire transfer. You can find the payment details when you select this as your preferred payment method from your trading area. The minimum deposit amount when using Bank Wire is €/£500, and it may take a little longer for the funds to reflect in your trading account.
To withdraw money from your trading account, follow the steps below:
1) Log into your Olympia Markets account
2) Click the ‘Withdraw’ tab and submit your withdrawal request
3) Wait for approval and your money will be sent to you
Withdrawals are processed using the same method you made your deposit with. To ensure a smooth and hassle-free deposits and withdrawals, you will have to verify your trading account.
OOlympia Markets adheres strictly to set anti-money laundering (AML) and KYC guidelines. To this end, all customers must complete a verification procedure before engaging in active trading. To verify your account, Olympia Markets will require the following documents:
Proof of Identity
Olympia Markets accepts the following valid, government-issued documents as proof of identity:
1) Identity Card
2) Driver’s License
Provide a coloured copy (scan or photo) that is clear and legible. It should indicate your full name, date of birth, your photo, expiry date (if applicable), as well as your signature.
Proof of Address
Olympia Markets accepts the following documents as proof of address:
1) Utility Bill (gas, electricity etc.)
2) Bank or Credit Card statement
3) Tax statements or Local Authority tax bill
The documents must not be older than 3 months and should clearly show the Issuer, your name and address, as well as date of issue.
Proof of Card Ownership
For credit card users, Olympia Markets will require a coloured copy (front and back) of your card. The following should be clearly visible:
1) Cardholder name
2) Expiration date
3) Front side- 4 digits
4) Backside – Signature
For your security, all other details not mentioned above should be concealed.
Declaration of Deposit
Download the form available on the KYC page on the Olympia Markets website; fill it out, sign it and then print. The Declaration of Deposit shows the following:
1) Date and Time (exact hour) of Deposit
2) Amount and Currency deposited
Olympia Markets Trading Platform
Olympia Markets has a powerful cloud-based trading platform designed to ensure traders get the most out of their trading activity. The platform is web-based, which means there is no download required. The Olympia Markets platform allows traders to access over 400 tradable financial assets that range from currency pairs, stock and indices to commodities and cryptocurrencies. As a new broker, Olympia Markets boasts one of the largest selections of crypto/crypto or crypto/fiat pairs in the industry.
The platform is feature-packed and highly customizable. Traders can highlight their favourite assets, which will be easily accessible on the platform by just clicking on the ‘favourites’ tab. Any asset selected will display instantly on the chart, with an accompanying ‘information’ section that will detail all the relevant trading information associated with the underlying asset.
The platform features interactive charts that can be displayed in lines, bars or candlesticks form. There are numerous indicators and trading tools to further aid your trading activity. And for traders who keep a trading log, there is a handy camera to take screenshots of your charts for future reference or learning.
Despite having numerous features, the platform is uniquely neat and there is ease of placing orders. There are also many types of orders supported such as stop losses and take profits, which ensure that you are in full control when trading your favourite financial assets.
There is also a sentimental analysis tool placed conveniently below the order section so you can easily gauge market sentiment at all times when trading an underlying financial asset.
Olympia Markets platform is accessible on both desktop and mobile devices, with there being no difference in functionality no matter the device you decide to use to trade.
Education and Resources
Olympia Markets offers free, comprehensive trading education that is useful for both new and experienced traders. There is a detailed guide on their homepage that discusses how to navigate and utilise all the available features of their trading platform. Aside from that, there are numerous eBooks and video tutorials that discuss various strategies that can be applied when trading different assets or market conditions. There are also scheduled 1-on-1 training sessions with their experts as well as webinars where traders can interact with fellow traders or veteran traders that conduct the sessions. For Olympia Markets, education is a way to forge potentially long term, lucrative partnerships with their traders. They are thus wholly committed to improving individual traders, because that will also guarantee their own growth and success.
In addition to education, Olympia Markets traders also have access to handy trading resources that can help them trade even better. There is the Volatility Chart, which ranks the best market movers of the day. It is volatility that creates trading opportunities, and Olympia Markets makes it easy for you to find the assets to trade at any given time. There is also the Dividend Calendar, which is a very useful tool for stock CFDs traders. Stocks usually post huge price fluctuations on dividend dates and the Dividend Calendar can help traders track which stock to watch out for. And finally, there is the Financial Calendar which can help traders track all major economic news and events as well as the assets they are likely to impact. The Financial Calendar is a great tool for any trader that wishes to apply a fundamental strategy in the markets.
At Olympia Markets, the trader is king. If you ever experience any issues with your trading experience, you can easily get in touch with the customer support staff that is very friendly, highly professional and above all, responsive. They can be reached via email at or on phone. You can also leave your contacts via the live chat option, and an agent will contact you as soon as possible.
Frequently Asked Questions (FAQs)
Is Olympia Markets Regulated?
Olympia Markets is a brand of Yield Enterprise Currency Software OÜ, a firm duly registered and headquartered in Estonia. Estonia is part of the European Union, which means that all financial services companies incorporated in the country operates according to EU’s MiFID II directive. This means that Olympia Markets duly operates as a regulated brokerage firm in Europe.
What is Olympia Markets?
Olympia Markets is on online Forex and crypto broker. They give investors and traders access to the exciting world of online financial assets trading.
Who has Experience with Olympia Markets?
The broker’s clients are investors and traders from all around the world who wish to speculate, for profit, on the prices of currency pairs, stocks, indices, commodities and cryptocurrencies online.
How does Olympia Markets Work?
Olympia Markets provides investors and traders with a platform to speculate on financial assets. On our platform, you get to place buy and sell orders, and in return, they charge a trading ‘fee’ in the form of spreads, which is the difference between the bid and ask prices when you open a trade in the market.
How Reputable is Olympia Markets?
We have performed a thorough scam test on Olympia Markets against all the major parameters of choosing a reliable and trustworthy broker. We can confirm that Olympia Markets is a trustworthy broker worth your time and money.
How do I Open an Account with Olympia Markets?
Follow the steps below to quickly open an account with Olympia Markets:
1) Click the ‘Sign Up’ button on the Olympia Markets homepage
2) Enter your Name, Email and Password
3) Confirm your Email Address
4) Log into your trading account
5) Deposit and begin trading
Where is Olympia Markets Based?
Olympia Markets has a verified physical location at Harju maakond, Tallinn, Kesklinna linnaosa, Parda tn 4, 10151 Estonia. This also serves as their headquarters.