Understanding Olymp Trade: Be cautious when investing

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What is Olymp Trade? Is it a scam? Is it easy to use? These are common questions many people have. Previously, we discussed Binomo, analyzing whether it's a scam or not. In this article, we'll address all your concerns about Olymp Trade to help you make informed decisions.

In our series on making money online, we've covered Binary Options extensively. It's a relatively new investment channel similar to Forex. Previously, we've talked about various binary trading services like BINOMO, IQ Option. Now, let's delve into understanding if OlympTrade is a scam.

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[UPDATE]

In order to provide an objective assessment, Mytour tested the Olymptrade system by creating an affiliate marketing account. However, it can be concluded that: The Olymptrade system has certain issues that you need to be aware of. We describe specific issues below for your understanding.

After our account testing period, we accumulated over $50. We proceeded to the withdrawal process.

1. Unstable System.

To deposit funds for withdrawal, Olymptrade's system requires phone number verification. However, after numerous attempts, Olymptrade failed to send the verification code to the phone. After reaching out to customer support, they manually sent the code after some time.

After phone verification, attempting to withdraw funds prompts the system to require a minimum of 5 referrals to join.

After some time, the system notifies that the account has been upgraded to 'lite account,' requiring additional passport or ID verification. We completed this step, and the system indicated that the account would be verified within 3 days. During this time, reporting functions were inaccessible, but login remained possible.

2. Unresponsive Support Chat.

It's extremely difficult to get in touch with their support team; they don't respond to chat messages. Meanwhile, the account remains locked.

Much later, after we updated this article, OlympTrade contacted us and informed that our account was locked because it was created through an affiliate link, which violates their policies.

Conclusion:

Conclusion: Whether OlympTrade is a scam or not depends on your opinion; we only mention the issues we encountered here. The problems we faced above were when joining Olymptrade's affiliate system initially; now the system may have undergone improvements. You can totally experiment with investing in Olymp Trade and have your own experience.

Olymp Trade is considered a suitable solution for inexperienced traders. Olymp Trade is a binary options broker with certain innovations, improvements, fully complying with the regulations of the International Financial Commission. Olymp Trade operates by focusing on its single, useful product to create simple, powerful trading solutions,...

Olymp Trade is seen as a modern, professional broker, helping users minimize margin amounts, enhancing efficiency for services. Olymp Trade helps forecast some fluctuations of future assets such as gold, stocks over a certain period, allowing users to make decisions to invest or not invest in these assets.

What is Olymp Trade? Is it a scam? Is it easy to use?

Olymp Trade is a legitimate company; thus, your investment funds will not be stolen or deceived. However, not only Olymp Trade but also most binary options brokers present unrealistic winning expectations to attract investors. Therefore, you need to be extremely vigilant, considerate, and develop a rational investment strategy.

Is Olymp Trade easy to use?

Whether Olymp Trade is easy to use or not, the answer is yes. However, whether you can truly win in binary options trading with Olymp Trade depends on your luck. Moreover, you need to put in effort and conduct thorough research.

What are the outstanding features of Olymp Trade?

Olymp Trade offers customers a wide range of trading assets, low minimum deposit requirements, users can use a Demo account alongside a real account. Additionally, Olymp Trade is rated as a broker with a unique trading platform, supervised and regulated by the International Financial Commission, offering free withdrawals,...

Should you choose Olymp Trade?

Olymp Trade provides a solid foundation for inexperienced investors to familiarize themselves with financial trading, understand various aspects of the company's operations. With diverse time frames and streamlined focus, Olymp Trade will be an intriguing choice for traders.

Here is some information about Olymp Trade to help you gain more useful knowledge about this binary options broker compared to others in the market. Overall, whether Olymp Trade is an opportunity or a risk depends on the analysis, judgment, perseverance, and patience of each trader, along with a bit of luck to execute accurate, effective investment plans.

In addition, Bitcoin is a virtual currency whose real value is currently attracting many participants. So, what is Bitcoin, how to earn it, you can refer to articles on Mytour to understand more.

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