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Olymp Trade Review : Is scam ? | Review | Ratings – OLYMPTRADE.COM

Olymp Trade India Review: Pros and Cons

ProsCons
The web and mobile trading platforms provide an easy to use interface.The broker does not accept EU or US clients.
Attractive spreads and offers leverage of up to 400:1.Deals and bonuses are limited.
Olymp Trade mobile app is easy to access on Android and iOS devices.Non-verified accounts have problems with withdrawals.
Low minimum deposit compared with other traditional platforms.Does not provide clear terms on Bonus.
Offers a wide range of assets for trading.
Olymp offers 24×7 customer service.
Supports a wide range of payment methods.
The broker has an array of training methods.

Is Olymp trade a scam? If not, what is the proof?

To understand is broker a scam or legit, we should check some points, that will clearly show this.First of all, there are some myths that not fair people use on their own to say that legit broker is a ‘scam’. For example, many companies that are interested in ‘recovering’ desinform people and promise them to recover money. The problem is – many people believe that if they’ve lost money while trading, there is chance to recover money. Of course it isn’t. Secondly, we should understand what ‘scam’ is. Scam broker is a company that have stopped to let people withdraw money. So the company fails its own liabilies. There’s some points that will help to determine whether or not the company is a scam.

  1. Company operates for the short-time. The purpose of scam broker is to attract customers, get them to spend some money and then close the company. Such brokers usually exist no more than 2-3 years, after which a lot of information about them with disclosures and they create a new brand.
  2. Company doesn’t invest in its own brand and customers’ loyalty. Brokerage service is the business like many others and if you ever faced with business, you know what brand and customers’ loyalty means. Good companies always spend a lot of money on not just offering a product, but on creating a loyal customer that will use services or buy products of particular company. Scam brokers never invest in such things, as their goal is to operate for 2-3 years and then shut down. So such brokers will never offer you good education, video tutorials or create blogs – as that’s all need investing of significant money.
  3. Usually scam brokers focus on only one country or one region. The goal of scam brokers is to earn money with the lowest spendings, so they create a brand in one country, promote it and then shut down.
  4. Search query broker_name + scam is one of the most popular. If people has doubts – they google. If the broker has broker_name + scam phrase in the first top-5 there’s high chances that broker is scam. Of course, legit brokers also has scam search query, but it will be in top 10-20 usually, not on top.
  5. Broker isn’t popular. Scam broker will never become very popular for one simple reason – it does not invest in loyalty creation. The main purpose of scam broker is aggressive advertising aimed at attracting clients, but as soon as the client loses money – he leaves and forgets about the broker.
  6. Google trends can tell you a lot. Google Trends is a very useful and multifunctional tool, which, among other things, can help to determine whether a broker is scam or not. Signs of scam broker: rapid rise in popularity (due to aggressive advertising), popularity in only a few countries, broker_name + scam is almost so popular, as broker_name query. Also, interest for a broker is ‘jumping’, there’s no stability. Interest rises when company invest in promotion and falls when the promoting campaign ends.
  7. Broker prevents creation of ‘traders communities’. People love communiites, that’s the point. We are social and we want to share our experience with others. However, scam brokers don’t want people to share info, as that will speed up the spread of info that brokerage is the spread.

Now, I suggest you to re-read this 7 points and review Olymp Trade according to them. As you see, in this part I haven’t wrote any single word about OT as I don’t want just to share my own thoughts, I want you to undestand what I know. So, please, make your own reasoning and then keep on reading, I will provide my own (there will be picture to let you think, just scroll down).

Now, there’s my own reasoning.

1.Does Olymp Trade operate for the short-time? Company was founded in 2014. Someone can think that’s short-time, but it’s 6 years of operating now. It’s 2-3 times more than ‘scam brokers’ usually operate. In case Olymp Trade is a scam, it would be shut down 2-3 years ago.

2. Does Olymp Trade invest in its own brand and customers’ loyalty? Olymp Trade has a lot of educational videos in different languages, blogs in different language and its own trading platform. I think it’s strong proof that Olymp isn’t scam, as scam brokerage usually use ‘the easiest way’ to spend all money on agreessive promotion, not in creating good service.

3. Does Olymp Trade focuses on only one coutnry/region? Let’s check this with SimilarWeb. What we see? There’s countries from different parts of world, so it’s okay.

4. Is Olymp Trade + scam query in the top-10? Let’s check this with Google search

No, there’s no scam query in the top-10.

Let’s check the same of scammed broker Banc de Binary…

There’s scam query on the second place.

5. Is Olymp Trade popular? Yes, it’s. There’s 84 reviews on ForexPeaceArmy, many questions on Quora and other platforms, so we can say that brokerage is popular.

6. Olymp Trade in Google Trends. Let’s compare trend for Olymp Trade and Olymp Trade Scam. There’s no clear methodology, but I think if brokerage is the scam, than scam search item will exceed 20 points, compared to brokerage name search item.

As you see, Olymp Trade scam (red line) is extremely unpopular, usually lower than 1% of the Olymp Trade popularity. Also, the Olymp Trade popularity isn’t jubping and we see that company became really popular only in 2016, so it took 2 years to built up a brand.

7. Does Olymp Trade prevents creation of trading communiites? I don’t think so, they have OFFICIAL trading community, so company encourage people to communicate and share experience, Can this be scam? I don’t think so.

Conclusion. I just provided my own investigation. Of course, I could tell my own experience, but I don’t think it’s good proof. There’s facts and we should be guided by them. And facts shows that Olymp Trade isn’t a scam, so that’s the best proof. By the way, I think like any other company Olymp sometime has fails, but that’s okay. It’s strong difference between a mistake and a scam, so if you have a problem. I like that OT understand the same and they have IFC regulation. That mean that Olymp Trade makes payments every year to insure traders’ deposits.
If you have any doubts – please re-check everything I’ve wrote.

Related questions

Is Olymp Trade a scam in 2022? If not, what is the proof?

Does anyone from India earn real money from Olymp Trade?

Is Olymp trade legal in india?If not then, why do so many people trade on it?

I made money in Olymp Trade more than 10 lakhs. Is this legal or not?

I am from India. If we are earning more money on olymp trade, do we face any income tax problems? In which category do we show our income? What to do if the bank ask that what is the source of this income?

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