FAQ

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.

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 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.

How do I calculate my profit?

Your profit from a trade can be up to 100% 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 &.

Is there a commission for servicing the account?

If, within 180 days, the client does not make any trading operations (transactions) on their real account and/or has no non-trading operations of replenishment/withdrawal of funds, a service commission (subscription fee) in the amount of $10 (ten dollars) or the equivalent of this amount in the account currency will be debited from their account monthly. The rule is set forth in clause 3.5 of the Non-trading Transaction Policy and the KYC/AML Policy.

If there is no amount in the client's balance enough to pay for the service, the commission amount becomes equal to the account balance, and the available bonus funds and risk-free trades are canceled. If the client has a zero balance, the commission will not be debited and the debt to the company will not arise.

If the trader has several accounts without activity for six months or more, the subscription fee will be charged only from one of them. The right to choose the account for debiting belongs to the company. The commission will be charged until the resumption of activity of the client, namely before the first trading or non-trading operation on a real account.

To avoid charging a subscription fee to the client, it is necessary to open at least one trading operation (transaction) on a real account or to make a non-trading operation (deposit/withdrawal) within 180 days.

The history of subscription fees for debiting is available in the Trades section of the personal account.

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.

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 source from which you deposit. The list of available methods for depositing and withdrawing funds you'll find here: https://olymptrade.com/cabinet#tab=recharge

What is the minimum withdrawal amount?

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

Do I need to be verified?

Verification is available upon request. If you need to pass the verification, you will receive an e-mail indicating this during registration. As a rule, the following documents are requested to verify a client:

  1. A color copy (scan/photo) of the passport page spread or ID card.
  2. Your selfie with the document (passport or ID) in expanded form. Face and document data should be clearly visible on the photo.
  3. Proof of residence.
  4. Confirmation of means of payment used on the trading account.

Where should I send the documents?

You will be able to upload your documents from your profile page. The section for uploading documents opens after receiving your request for verification.

How long does verification take?

Processing of the documents sent by the Client takes up to five business days.

How can I find out result of document verification?

After the verification is completed, you will receive a notification on the platform and via email.