You then have the option to hold on to your ETH or sell it again via the exchange. It uses remarkable and highly reliable computer systems to handle the exchange of stocks between buyers and sellers, and to set opening and closing prices. The account opening process at Olymp Trade stands similar to the account opening process on any online trading platform. Enter a password for your account. These consultants possess a rich familiarity in trading, making it an extremely great feature of a VIP account. However, the overall features of the VIP account are similar to the previous account except for the VIP consultant support service, which is absent in the standard user account. Such as, traders are exposed to several features and functions in an ECN account, including access to VIP consultants. But there is a big flaw as the users are charged $4 per lot on trading via ECN. The payment portals are fully encrypted and kept secured from any online activity that reflects a threat to transactions. However, Olymp Trade requests its users to make withdrawals from the same payment mode used before to fund an account.
Another tip is making use of an e-wallet like Skrill or Neteller to make deposits and then withdrawals to your Olymp Trade account. Though, the trading account is exempt from maintenance fees, which is a big plus point. Olymp Trade trading platform offers leverage up to 500:1, which is truly breathtaking. How Much Leverage Does Olymp Trade Provide? How Much Is Spread At Olymp Trade? Spread at Olymp trade starts from 0.6 in the ECN account and goes up to 1.1 in the standard account. Big traders can go with an ECN account that is a bit expensive but ideal for large-scale trading. Standard account users can feel stress-free as no fees are charged. Municipal bonds are issues by cities, towns and states to raise money for projects like schools and roads. This step prevents money laundering that has always been a big concern in the financial market. Leverage involves borrowing certain amount of the money needed to invest in something which is usually borrowed from a broker. However, leverage can vary from one asset to another, such as traders are exposed to 1:300 leverage on forex pairs. Overnight fees and inactivity fees are charged at a fixed rate in both accounts.
For instance, the broker charges a subscription fee, overnight fee, etc., that are charged at a fixed rate from its users. If this really happened, the article describes that all deposits are insured by FinaCom, so if the broker makes a mistake with your money, they will return everything to you. Yes, Olymp Trade is a fully legit forex broker. Thus it won’t be wrong to call it a legit forex broker. Is Olymp Trade A Legit Forex Broker? Mobile users can access the Olymp Trade trading account by following these general steps. 5. Now select between ECN and Standard account to get a desired group of assets on the screen. The deposit amount stays the same on both Standard and ECN accounts. In contrast, the standard account doesn’t include any Olymp Trade Fees, making it an ideal port for traders with limited investment capital. Traders can confidently make payments, pay Olymp Trade Commission and withdraw the amount from their trading account at Olymp Trade. Olymp Trade is a privately owned trading platform that charges a certain commission from its users.
7. Again, submit the trading amount anything from $1 to $5000 and start trading. The charges are levied on the total amount you invest. But make sure you are aware of the types of Olymp Trade Commission charged on crypto-trading. The Olymp Trade Commission is an easy-going trading platform. Though the amount is mandatory to be submitted; else the broker won’t give you any access to its trading account. The minimum deposit amount to access a trading account at Olymp Trade is $10. The deposit amount is fixed in both standard and ECN accounts except for Olymp Trade brokerage charges. But this doesn’t mean that Olymp trade goes a bit unfair with ECN account users. The type of account you use for trading and the type of assets you trade at Olymp Trade decides the ultimate commissions. User’s location, the type of assets they choose, including account, decides the ultimate fees they are liable to pay.