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FAQ

General questions

What are binary options and how do I trade with them?

A binary option is a stock market tool for earning money by forecasting whether the the price of an asset will go up or down. A traders can earn money even if the price has only changed by 1 point. For more information please see the "How to start" section.

How do I start trading?

You must register on our website: OLYMPTRADE.COM.

Right after the registration is completed, a trading account is opened automatically, and you can make a deposit. At OLYMPTRADE the minimum trade amount is $1 / €1, and the minimal deposit is $10 / €10.

Binary option are a tool that is simple enough for beginners.

The trading algorithm consists of just a few steps:

  1. Choose an asset.
    At OLYMP TRADE you have access to the following assets: EUR/USD, USD/JPY, GBP/USD, USD/CHF, USD/RUB, AUD/USD, EURRUB, USD CAD, EUR JPY, EUR CHF, Bitcoin, Apple, Boeing, Facebook, Google, IBM, Tesla, Coca-Cola, McDonald's, Microsoft, Visa, Starbucks, COMMODITIES, silver, gold, BRENT, DAX, S&P 500, NASDAQ, Dow Jones, AUD/CAD, AUD/CHF, AUD/JPY, AUD/NZD, CAD/CHF, CAD/JPY, СHF/JPY, EUR/AUD, EUR/CAD, EUR/GBP, EUR/NZD, GBP/AUD, GBP/CAD, GBP/CHF, GBP/JPY, GBP/NZD, NZD/CAD, NZD/CHF, NZD/JPY, NZD/USD, USD/SGD, USD/MXN, USD/NOK, USD/CLP, natural gas (NG), copper, platinum, the CAC 40, EURO STOXX 50, Hang Seng Index, Nikkei 225, RUSSELL 2000, FTSE 100, BMW, Nintendo.
  2. Decide how much to invest.
    Your payout will vary depending on your investment. If you open an option successfully, your profit will be as high as 93%. Your profit depends directly on market volatility. The higher the volatility, the higher your profit.
  3. Set the time after which your prediction will prove correct (execution time).
    At OLYMPTRADE you have time ranges from a minute to 3 hours.
  4. Decide whether the asset price will go up or own and press either on the Up button (if you think that the price will go up), or on the Down button if you think that the price will go down).
  5. Wait for the trade to expire.

How can I delete my account?

The account can only be blocked. To block your account, you need to contact the clients support department at support-en@olymptrade.com or you can call us: +357 22007136

What is market volatility?

Volatility is the variability Volatility – instability, variability in a price on an exchange over a specific period of time. In other words: it is a statistical financial indicator of the variability of the price. For traders it is a very important indicator, because, when selecting an asset, one needs to know what fluctuations it is subject to. The volatility figure makes it possible to assess the risk of investing in a particular asset. The higher the volatility, the higher the risk. At the same time, the volatility figure also makes it possible for a trader to estimate potential profit.

What is the the option execution time (expiration time)?

This is the time period, at the end of which a trade is closed automatically, i.e., is executed. At OLYMPTRADE you can choose time ranges from 1 minute to 3 hours.

Please note that you can cancel a trade on your own. If you realize that your forecast is incorrect and the chart is moving in the wrong direction after a trade has executed, you can cancel your trade and avoid the total loss of your investment. In the "My Trades" section (in the Sell column ) you can see the refund amount if a trade is canceled (you can get back up to 120% of the investment depending on when the trade is canceled). If you want to cancel a trade, you need to click on the button with the return amount and then confirm the early sale.

What are assets?

Assets include currency pairs, stocks, indices, and commodities. These underlying assets are the foundation of any binary option. When you trade binary options, you can trade currency pairs, commodities (gold, oil), key stock exchange indices and stocks. You can review the complete list of assets and the trading time for each of them in the corresponding section of our site Assets».

What is asset liquidity?

Liquidity is the capacity of an asset to be sold quickly with minimum monetary losses related to the speed of the sale. In other words liquid means convertible into money. Currencies are the most liquid asset. Second in liquidity are gilt-edged securities. On the securities market, liquidity directly depends on the trading volume for an asset and on the number of current buy and sell offers. Precious metals rank third. Metals such as gold, silver, platinum and palladium are exchanged-traded commodities. Their price is determined at the centers of global trade, in New York and London. Bars of these metals can potentially be sold at any time and with minimal losses.

The more liquid the asset has, the less risky it is for the investor.

What are call and put options?

A call option is bought if a trader believes that the the price of the chosen asset when the option is exercised will be higher than at when it was purchased.

A put option is bought when a trader believes that the price of the chosen asset when the option is exercised will be lower than when it was purchased.

You can find out the meanings of other important option terms in the section "Terms".

What is a trading system?

It is a system of several components that helps a trader decide whether to open a trade. The system includes one or more analysis tools (fundamental, technical, graphical analysis), the specific conditions for their use, the rules of money management and psychological attitudes. Trading Strategy - an algorithm using indicators and other analytical tools and a set of specific rules for executing trades with them. A trading strategy is part of a trading system.

Do I lose my deposit if the purchase price matches the fulfillment price?

The deposit is not lost; in this case the cost of the option is returned to the trader.

Do I need any training before getting started?

General knowledge and access to economic news are sufficient for the novice trader. You can review the principles of option trading by studying our section "Video tutorials" and joining our Webinars".

Financial questions

How do I calculate my profit?

Your profit from a trade can be up to 93% of the invested amount. Your profit directly depends on the return percentage. The higher the return rate, the higher your profit.

The return rate depend on several factors:

  1. The market environment (volatility, liquidity)
  2. Balance within the company. The automatic risk algorithm determines the number of opened buy and sell trades for each asset. The number of sellers and buyers is usually balanced. If one side is overweighted, the company cuts the profitability for the out-of-balance asset to cover the costs. But in any case, the profit from successful trades is paid to clients in full.

What is the minimum deposit amount?

The minimum deposit amount is $10  / €10 &.

What is the minimum trade amount?

The minimum trade amount on our trading platform is $1  / €1 .

Is there any fee for depositing or withdrawing funds?

No, OLYMPTRADE assumes all commissions.

How do I make a deposit?

In order to make a deposit to your account, you need to choose the «Deposit» section in your Dashboard, choose the payment method, fill in the deposit amount (the minimum is $10 / €10), and then click on the Deposit button. You will be offered a deposit bonus. If you do not wish to receive this bonus, you should click on the "Cancel bonus" button and follow the instructions.

Deposit methods

You can make a deposit from the e-wallets of the following payment systems: QIWI, Webmoney, Yandex.Money, NETELLER, Skrill, and Fasapay. You can also replenish account from your Visa or MasterCard.

Can I use my bank card to make deposits?

Yes, with OLYMPTRADE you can make a deposit using a bank card.

How can I withdraw funds?

In order to withdraw funds, you need to submit a request in your Dashboard. Go to the "Withdrawal" section, select the withdrawal method, fill in the amount and click "Submit request".

The maximum withdrawal period is 5 business days, but we always try to process your requests as fast as possible. Usually, 90% of requests are processed within 24 hours or on the next business day.

Withdrawal methods

You can withdraw funds only to the wallet / bank card that was used to make the deposit. Withdrawals are processed to the following e-wallets: QIWI, Yandex.Money, NETELLER, Webmoney, Fasapay, Skrill or to your bank card. Funds withdrawal by bank transfer is available in some regions. You fill out a request in the "Withdrawal" section, and it is processed within 5 business days.

What is the minimum withdrawal amount?

The minimum withdrawal amount is $10 / €10 depending on the currency of your account.

Trading platform

What is a trading platform?

It is a combination of hardware and software that allows users (traders) to make trades and provides them with access to information about financial markets.

Do I need to download any software to my PC to trade?

No, all you have  to do is open an account on the OLYMPTRADE site

How do I view my trading history?

You can check your trading history in your Dashboard in the section "Trades".

What time is displayed on the platform?

The time that is shown on the platform corresponds to the user time (according to your time zone).

Why doesn't a trade open immediately?

It normally takes a few seconds to receive the data from the server, that is why a trade does not open immediately. Usually this process takes up to 4 seconds.

How can I close a trade early?

On the OLYMP TRADE platform you can close a trade before the time when the binary option expires. You have 5/6th of the specified time to close a trade early. There are two mechanisms for calculating the percentage you get back. For a trade lasting less than 15 minutes, the percentage returned depends on the time: the sooner you close the trade, the higher the percentage you receive. The maximum that you can get back is 60% of the investment. For trades lasting 15 minutes or more, another mechanism is used to calculate the percentage return: it considers not only the time when the trade was closed early, but so the current market value of the binary option. The most that you can get back is 120% of the investment, i.e., a net profit of 20% of on the sale of the option you bought.

What do I do if there is a system error while I'm loading the platform?

If there are technical errors, first of all it is recommended that you clean up the cache and cookies in your browser. You should also check that the latest version of the installed browser is being used. If these actions and reloading the page are of no help and the error persists, please contact the technical support department.

What time of day is considered to be the most active trading time?

Currency trading activity depends on the operating hours of the main trading floors and increases when major economic news comes out. The most active trading sessions are the European and American ones, so, for example, the European session lasts from 06:00 am to 03:00 pm UTC. The US session lasts from 1:00 pm to 10:00 pm UTC.

Please note that trading in the currency pair USD / RUB takes place from 7:00 am to 05:00 pm UTC.

Is there a demo account?

We offer a demo account with 10,000 virtual units of your currency so that you can evaluate the benefits of our trading platform.

What is the minimum trade amount?

The minimum trade amount at OLYMPTRADE is $1 $ / €1 & (depending on your account currency).

What is the maximum trade amount?

The maximum trade amount is $2000 $ /€2000  (depending on your account currency).

The maximum trade amount for VIP clients is $5000 $ / €5000 & (depending on the account currency).

Are there any limits on positions?

The maximum trade per instrument for regular clients is $10,000 / €10,000 & (depending on the account currency).

The maximum trade per instrument for VIP clients is $10,000nbsp;/ €10,000 & (depending on the account currency).

The maximum trade amount on all trading assets for all users is $20,000 / €20,000 & (depending on the account currency).

What is a line chart?

This is a type of continuous chart which is based on the price feed. This chart represents the linear relationship between constantly changing quotes for exchange-traded assets. The chart is plotted online.

What is a candlestick chart?

This is a type of chart that uses Japanese candlesticks in its construction. It forms candlesticks on the basis of data for a certain time interval (time frame). For example, a candle with the 15-second time frame means that the candle body is formed over 15 seconds and a new candle starts after this period ends.

There are three types of candles:

  1. A green candle means that the price increased over the period.
  2. A red candle means that the price decreased over the period.
  3. An unformed candle means that the price has not changed over the period.

The candlestick chart is useful for technical analysis.

What are Heiken Ashi candles?

Heiken Ashi candles is an indicator that organizes the candlestick chart, smoothes out price fluctuations and makes the chart clearer and more informative. This is a useful and popular instrument among modern traders.

Heiken Ashi uses a special formula which contains:

  • Heiken Ashi open level - the average value of the opening and closing prices of the previous standard candle (Close + Open)/2
  • Close level - the average value of the high, low, opening and closing prices of the current candle (Min+Max+Open+Close)/4;

Therefore, the high is the highest value among the opening, closing and high prices of the current candle; the low is the lowest value among the opening, closing and low prices of the current candle.

Heiken Ashi comes in the following types:

  1. Green candle with no lower shadow - strong upward movement
  2. Green candle with a shadow - usually appears at the beginning or at the end of upward movement
  3. Candle with a small body and long shadows on both sides - indicates a possible trend reversal.
  4. Red candle - usually appears at the beginning or at the end of downward movement
  5. Red candle with no upper shadow - strong downward movement

The main disadvantage of the Heiken Ashi indicator is the lag behind the price chart.

What is a time frame?

It is a time scale of prices on the trading platform. If you choose a time frame of 10 minutes on the line chart, you can see the part of the price chart for the last 10 minutes. If you choose a "5 minute" time frame on the Japanese candlestick chart, each candle will show how the price changed over that this period (if it increased, the candle will be green; if it decreased, it will be red).

The following time intervals are used on the platform: 15 seconds, 1, 5, and 15 minutes.

What is zoom?

Zoom is an is an additional chart feature that helps you use a greater amount of historical data within 24 hours. This feature allows a trader to scroll through the history of the chart for a certain time back, zoom in and out from certain chart segments. Zoom scrolling is necessary for technical analysis, the goal of which is to find patterns in a historical period of a chart. At OLYMP TRADE zoom is beneath the quotes chart.

What is a risk-free trade?

Example: the risk-free trade limit is $100. It means that after its activation, you can open a trade for no more that 100 USD. If your prediction is wrong, we will return up to 100 USD to your trading account.

You can activate a trade amount less than risk-free trade limit. Example: the risk-free trade limit is $100. You have activated the risk-free trade, but entered 80 USD as the "trade amount." If your prediction is wrong, we will return 80 USD to your account. However, the difference between the risk-free trade limit and the chosen trade amount will not be returned.

Verification

Do I need to be verified?

A client is verified at the request of the financial department. If a client has to be verified, a representative of the financial department will contact him/her by telephone or email  to the e-mail address specified by the client during registration.

Where should I send the documents?

Upon receipt of a verification request, all the necessary documents must be sent to the e-mail kyc@olymptrade.com together with the login (the login is the email address that was specified by the client during registration).

How long does verification take?

All documents sent by the client will be processed within one business day.

How can I find out result of document verification?

When verification is completed, the client receives a notification to the email address specified during registration.