Olymp Trade – a name that is probably very prominent in the binary options market, only after Binomo. Option trading or BO trade has been participating in large numbers of players in Vietnam, many of you have inboxed to ask us about how to play Olymp Trade, how to register, log in, deposit money, withdraw money from OlympTrade, how to play Olymp Trade on the phone, reputable and effective investment, .. and even those who do not know what Olymp Trade is? Is it a scam? Should I make money with OlympTrade in 2019? So the article I Love Bitcoin will give you a detailed review of this option.
What is Olymp Trade?
Olymp Trade is a form of online investment based on the binary options trading platform (Binary Option). The way OlympTrade works is based on the price movement of assets (coins, stocks, gold, stocks, currency pairs, ..), investors’ job is to predict whether the price will increase or decrease ( Up/Down) for a certain period of time, if the player is correct, the player will win money and vice versa, if the player is wrong, he/she will lose money.
Basically OlympTrade is similar to Binomo or IQ Option, they are all options floors, players make money by predicting the price trend of specific assets, maybe in 1 minute, 5 minutes, 15 minutes, .. In essence, it is no different from a form of “gambling” of luck, up or down like fortune, squirrel, ..
According to the information provided by the Olymp Trade website, it was established in 2014, managed by Inlustris Ltd., license number: 25161 IBC 2018, registered at Kingstown, First Floor, First St Vincent Bank Ltd Building, Saint Vincent and the Grenadines. OlympTrade was registered and regulated by the Financial Market Relations Regulatory Center (FMRRC) of Russia. However, this information is not authentic, nor do I see a link from these units to confirm that it is correct.
Olymp Trade Currently providing transactions for players on platforms such as online web and phone, for mobile, Olymp Trade has an app on IOS and Android.
A complete guide on how to trade on Olymp Trade
1. Types of accounts on Olymp Trade: Demo and real
Similar to Binomo, when you Sign up for Olymp Trade There will be two types of accounts: Demo account and real account.
- Demo Account: This is an account that after you register, Olymp Trade will give you a virtual money of $ 10,000 for trial trading, this amount is just for “trying” and you cannot withdraw. The purpose of the demo account is to help players experience how to trade first, then use the real account.
- Real account: Unlike the demo account, the real account is where you will deposit real VND into Olymp Trade and can withdraw.
In particular, the real account on Olymp Trade is divided into 2 types: regular account and VIP account, with a regular account being an account with a deposit amount of $10-$2000. A VIP account is an account with an amount greater than $2000.
2. How does Olymp Trade accept deposits and withdrawals in Vietnam?
Olymp Trade floor supports quite a lot of deposit and withdrawal methods, users can deposit through these ways and when withdrawing also use the same methods:
- Traditional Vietnamese Bank: Vietcombank, Vietinbank, Techcombank, Sacombank, ACB, Dong A, BIDV, Eximbank,..
- E-wallet: Epayments, Skrill, Neteller, WebMoney,..
- Cryptocurrencies: Bitcoin, Ethereum,..
3. Does Olymp Trade have an app to play on the phone?
As I said above, Olymp Trade now has an application for trading on mobile phones, in addition to the online web platform. Players can Download Olymp Trade to your phone on the two most popular operating systems today are iOS of iPhone and Android.
4. Instructions on how to register and log in on the Olymp Trade floor
I used to myself play Olymp Trade to experience this option floor firsthand, but then I felt it was nothing like their advertising as well as the communities that are PR for it. So I decided not to play anymore. Therefore, this part will be left blank for the time being, the reason why should not play Olymp Trade I will mention it below.
5. Is there any effective strategy to play Olymp Trade, always win?
In fact, there’s no magic, or way to trade Olymp Trade always win, usually in the form of investment such as cryptocurrencies, stocks or forex, we can use the following methods: technical analysis, analyze charts to predict the direction of asset prices, but these indicators must all be based on the fundamental factors of the market, and with Olymp Trade, there is no single element to analyze, it seems. All decisions are based solely on personal feelings. Some people share online about the Olymp Trade playing strategy always wins, in my opinion is not feasible.
6. Is Olymp Trade legal in Vietnam?
Business binary options In general, there is currently no legal regulation in any country. It is now possible to legally engage in binary options trading in Vietnam, including Olymp Trade, Binomo nice IQ Option. Unlike the foreign exchange market, the dual options market is not under the management of the State Bank of Vietnam.
However, binary options theoretically play a role in asset pricing, but they carry the risk of fraud and are considered by regulators in many jurisdictions a form of gambling and are prohibited. Many binary options trading companies have been exposed as scams. US FBI is investigating binary scams worldwide. According to statistics, binary options scammers have taken US$10 billion per year globally. According to the Wikipedia.
So is Olymp Trade a scam?
As mentioned above, Olymp Trade is legal in Vietnam and currently there is no legal framework for options. Therefore, no one can say for sure Olymp Trade scam, this is also the question of many people when starting out learn about Olymp Trade. I used to play Olymp Trade and feel that this form is not easy to make money at all, and it is more like gambling than a form of financial transaction such as crypto, forex or currency.
When you sign up for an account and use a demo account to trade, you will usually win more than lose, but when you deposit real money to play, the opposite is true, losing more than winning, and I can assert that there is no strategy to playing Olymp Trade always wins All, it’s all luck, of course, there will still be “lucky” people to win, but if they don’t know the stop, the possibility of losing all their money is very high.
Not to mention when you have a large amount of money in your account thanks to a winning trade, the withdraw money from Olymp Trade also very difficult, some players even better Olymp Trade is a scam because when you win, OlympTrade tries to block your account, or limit transactions, lock your money or want to withdraw, you have to wait a long time, but when you lose… you already know. It means that when you deposit/withdraw a small amount, it seems smooth, but when you have a large amount, it is very difficult to deposit / withdraw, some people cannot withdraw money for several months. Here are the impressions, experience play Olymp Trade the reality of some people on the TraderViet community.
Why are you invited to invest in OlympTrade so much?
I believe it’s not natural that you know Olymp Trade trading platform, the majority of new entrants play OlympTrade are recommended, be it through friends, relatives, or even people you don’t know, or you are wandering the internet looking for a form. Make money online If you have potential to invest, meet OlympTrade through Youtube channels, websites, .. And usually these people will invite you with very attractive words, they draw potential and safe money-making strategies, effective, even as I say “playing always wins”.
Olymp Trade or any options exchange, there is a reward program through affiliate marketing (Affiliate Marketing), that is, whoever invites new people to join, deposit money to play, they will receive money. commission from the system of Olymp Trade. The nature of this Affiliate form is not bad, even in marketing it is very good and effective, but those who apply it for the wrong purposes make it a form of marketing. multi-level scam, many people for the sake of commission profit despite inviting ignorant people to participate, although they are not sure that they have played, or that someone knows The risk of investing in Olymp Trade is very high, but they tell others it’s easy to play, easy to win, low risk. That is why you are often invited to join Olymp Trade.
Not to mention, Olymp Trade is also extremely diligent in investing to promote its trading platform, you can often come across Olymp Trade’s ads on social networks such as Facebook, Youtube, news sites, Vietnam’s major press and a strong Affiliate team.
So should you play Olymp Trade and make money with options trading?
If you read this far, you probably understand a bit of my personal opinion about this Should I play Olymp Trade or not?, to me is definitely “ARE NOT” already. Olymp Trade or options trading is too risky, extremely risky, especially for beginners. It does not have any basis for analysis and prediction, all player decisions are based on personal feelings, and therefore, Olymp Trade is no different from other forms of gambling that are rampant online. .
I just take a simple example like this, it’s difficult for you to gamble with real people outside, then the “play with the machine“Is it possible? You’ve probably heard that “playing slots” you can be “red” for a day or two and win a lot of money, but everyone’s mentality is the same.to be greedy, lose to be greedy“, that’s why, if you win, you will also lose, you can’t stay red forever and in the end you will lose all your money if you don’t know…