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Olymp trade, opinions


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Taking care of professional traders and their needs is indeed a good path for any brokerage to choose. I don’t think that nowadays brokers can compete by a mere lowering of spreads and commissions. This is is a straight path to the hell of unprofessional attitude to the quality of service, cause you can’t keep lowering commissions leaving the high quality of service simultaneously. So in case Olymp really stakes on widening the scope of services they provide, maximizing the number of assets and improving the quality of connection and executions - this is what can really make the company compatible among other brokerages.

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Please don’t consider it an offence, but what kind of indicators can you miss here? No, really, I’m just trying to get it understood. My charts are naked, I don’t use any indicators and have very few chart drawings there. But I never stop wondering how others use indies and how they can be helpful. Especially the exotic ones. 

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I’m not that sure about exotics, but my set of simple indicators like moving averages and MACD help me remove emotional aspect from trading. I definitely can “read” charts as they are like you do, I can identify trends, see levels of support and resistance a you say, but without indicators I feel helpless in decision making. This wasn’t like that from the very beginning. In the beginning I considered myself to be a great naked trader and chart-reader as well. The problems started when I moved to trading live money and get consistently profitable. This is when I realized I need some help from the side to be making sound and most importantly decisions. Without indicators its rather easy to see that i.e market is going up. But when exactly it’s time to go long? When it’s time to fix the profit, where should be the stop loss, where is target? People may laugh about moving averages intersections as long as they want to, but as long as they help traders make decisions without draining their brains - people will keep using those.

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I see your point. You are right, emotions are difficult to keep under control. But I guess those who love getting emotions won’t find any use neither in indicators, nor in scientific approach, nor in any other statistical numbers. Only huge ZERO on their accounts will help in certain cases. But you are right, it’s good when people have choice. If they like indicators - here you go. If you don’t like - simply don’t use the feature 🙂

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  • 2 weeks later...

Well, I simply wanted to register a demo here. And I was offered to use MetaTrader as one of the platform options. I refused it by the way :) The original platform is something I really liked when I read some of Olymp Trade’s reviews. It’s plain, it’s got MOST IMPORTANT indicators, its easy to switch between option and forex. But I do beileve some of their clients will appreciate the innovations like you did :)

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  • 2 weeks later...

No, MetaTrader does not have a feature that would allow options trading, so this would be the main difference. The other thing is that there is a different approach to trading fees. At Olymp’s web trading platform they apply commission per trade and no spreads. With MT4 there are spreads but no other fees. 

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Hmm, looks like a lot of changes. From what I see with MT4 one can choose between ECN and standard, which basically means you can apply both formats of fees application with Metatrader account. With ECN you’ll get commission and no spreads, with standard you’ll get spreads and zero commissions. The other difference that I’ve noticed is that MT allows trading a wider list of assets. Personally I felt totally fine with the assets the have in the original platform. And to tell the truth, it was easier to calculate the risks with the web platform of Olymp’s. Anyway, I hope they are just expanding and don’t plan to close the support of their custom trading platform. It is nice to have a choice. I’m undecided yet about which one I prefer. 

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Fingers crossed it's all about expansion, and they will keep the support of options trading. THe last few weeks were a total blessing for options trading. Markets are very volatile and there are so many opportunities. I absolutely hate when the price is stuck near the entry point and keeps moving between win and loss situation till the expiration. I didn’t happen much lately which I’m happy about.    

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  • 6 months later...

 Before doing forex, make sure what broker you choose. Some broker is not reliable like Olymp Trade, Olymp Trade is a scam, try to send Olymp Trade a big number of money and you will lose your money with irrational answer. So, before you doing Forex, please check your broker and what facility that you get from your broker. 

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 Introducing Broker is a very common name in forex market. It offers total solution from the provision of the trading platforms to executions and settlement of transaction. For future market this broker has direct relationship  with the clients. My broker is FreshForex which provides the outstanding offers for the account holder who refers to the traders for opening a new account.
 

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  • 7 months later...
On 1/19/2022 at 4:03 PM, Garryy said:

Please advise me a good trading broker, otherwise I don't trust many people on the Internet.

I chose Olymp trade as the first forex broker when I started stock trading. It seemed that this was a great forex broker that allowed me to trade daily and earn money from it. But then my friend advised me to try a few more forex brokers, and I eventually settled on FBS. For me personally, this is the best forex broker today. What I like most about this company is that the application on the phone is very convenient and user-friendly. Unlike other forex companies that cannot develop an adequately configured application for trading. Here is my personal opinion about Olymp trade and about other forex companies.
 

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