Discussion about Olymp Trade

Galeat

Senior Villager
#21
Well, the difference between 10 and 30 dollars is small. Anyway, the first deposit will definitely be lost. Everyone says that. $30 is enough for more time)
 

Miriraven

Village Elder
#22
That is, you don’t receive a bonus when making the minimum deposit, do you? It’s not fair.
Why unfair? They don't call it "bonus" for nothing - that said, the company may grant it at its own discretion. As a rule, a bonus is granted by way of encouragement for depositing a certain amount of money. Actually, the possibility of topping up an account with just $10 is in itself a step forward for the users. I don't think that excution of such small orders is very cost-effective for the company. Technically, the platform performs equal work when executing a $1000 order and a $1-worth one - the only difference is that in the first case Olymp Trade receives a 1000 times bigger commission fee. So there's no wonder that the company encourages big deposits. This is the right of the company to do so. All you can do is use your head and think for yourself whether you need this.
As far as I'm concerned, I'd recommend the newbies to begin with about $50. In that case, an order of $1 has less influence on the deposit, which is why the trading is more stable. If you cannot afford depositing such an amount at present, you'd better spend some time practising with a demo and save up the amount you need. As for the bonuses, I can agree with Cemorj, that's not just about them. I mean, with a deposit of $50 you'll receive one anyway, but you won't really need it if you keep trading in the black. So first and foremost, I recommend you to find a working strategy. Plus, you may also take some training of Olymp Trade (it's free) and seek the relating info on the Internet. And of course you should practise with a demo - it's a must!
 

Nightworm

Village Elder
#24
Why unfair? They don't call it "bonus" for nothing - that said, the company may grant it at its own discretion. As a rule, a bonus is granted by way of encouragement for depositing a certain amount of money. Actually, the possibility of topping up an account with just $10 is in itself a step forward for the users. I don't think that excution of such small orders is very cost-effective for the company. Technically, the platform performs equal work when executing a $1000 order and a $1-worth one - the only difference is that in the first case Olymp Trade receives a 1000 times bigger commission fee. So there's no wonder that the company encourages big deposits. This is the right of the company to do so. All you can do is use your head and think for yourself whether you need this.
As far as I'm concerned, I'd recommend the newbies to begin with about $50. In that case, an order of $1 has less influence on the deposit, which is why the trading is more stable. If you cannot afford depositing such an amount at present, you'd better spend some time practising with a demo and save up the amount you need. As for the bonuses, I can agree with Cemorj, that's not just about them. I mean, with a deposit of $50 you'll receive one anyway, but you won't really need it if you keep trading in the black. So first and foremost, I recommend you to find a working strategy. Plus, you may also take some training of Olymp Trade (it's free) and seek the relating info on the Internet. And of course you should practise with a demo - it's a must!
And what kind of other benefits Olymp Trade has, besides the bonus and 10 dollars minimum deposit?
 

Miriraven

Village Elder
#25
For me, the main advantage of Olymp Trade is the user frindly platform and high payout rates for the main currency pairs. This is why I’m trading on this platform; the rest is just the details. I will not get the bonus, and anyway I already need more than 10 dollars for the trading, so the minimum deposit is not crucial for me :D.
 

Ociethiel

Village Elder
#27
Please pardon me my ignorance, but I often hear about these payout rates, but I can’t quite get what they mean. You’ve mentioned high payout rates at Olymp, and also mentioned they can be different for different currency pairs. So does this mean that “ up to 92% payouts” in reality can turn into 30 or 50%? For example, you buy an option for $10 and then only get +$3 in case the forecast was correct but lose $10 if it wasn’t? In this case it can be rather difficult to beat the market. Please correct me if I’m wrong.
 

Miriraven

Village Elder
#29
This is because you didn’t fund your account with $2000 and didn’t get the VIP status :) Anyway, yes, 92% is the max you can get. But generally you can get around 80% even with a small deposit trading most popular currencies. Stocks, cryptocurrencies and some really weird currency pairs like EURNZD can yield 40-50%. I see no point trading those. This is correct that this is very difficult to beat the market having to pay broker’s commission and at the same time only get half of your risked money when you succeed. So, I advice you to trade on pairs with high payouts.
 

Dolak

Village Elder
#30
But there must be some logic there. Why a brokerage offer smaller payout rates on some instruments and bigger on the other. This probably means that this is easier to predict currencies with 40-50% payouts. Otherwise why wouldn’t the brokerage want us to trade those currencies. They take care only about their own pockets. Instruments with the best payout rates are probably very hard to predict.
 

Miriraven

Village Elder
#31
I can’t disagree with the statement that broker only takes care of his own profits. But they don’t get profit when you lose. They get profit from commissions. So they are not really interested in you losing everything and going away, cause this will stop commissions flow.
In fact I find EURUSD to be the easiest currency pair to trade. Gold and Brent are also nice and all three of these have best payout rates at Olymp. I think that the broker is interested in supporting the liquidity in these instruments. Above 80% payouts attract traders and here is the liquidity.
 

Nightworm

Village Elder
#32
I think its a marketing strategy. They just want to create an illusion of a choice that you’ve got. In reality nobody trades options with 40% payouts.
 

Ociethiel

Village Elder
#36
Thanks for the discussion everyone. In a meanwhile I've checked several platforms for trading options and even tried demo trading. I'm not sure why, but the mentioned here Brent, that was supposed to have a nice payout rate is being traded with 30% payout. Instead cryptocurrencies have got some nice rates at Olymp. Did anyone try trading these?
 

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Miriraven

Village Elder
#37
Myself I am rather interested why payouts change that much. My best guess was that they try to support the liquidity at desired assets. However now I start doubting this is correct. Most of the times I look at Brent it's got above 70% payouts, and currencies are not that good at all, so I don't trade them.
Any ideas why there is such a difference in our payouts?
 

Nightworm

Village Elder
#38
Thanks for the discussion everyone. In a meanwhile I've checked several platforms for trading options and even tried demo trading. I'm not sure why, but the mentioned here Brent, that was supposed to have a nice payout rate is being traded with 30% payout. Instead cryptocurrencies have got some nice rates at Olymp. Did anyone try trading these?
I trade cryptocurrencies at Olymp. I'm still on demo account though. In fact the results are so good that I'm even thinking of investing some real money in this idea. I tried trading EURUSD and USDGBP for a long while, because these two have got best payouts all the time, but I didn't have much luck with them. So I tend to think that the most difficult to trade instruments have got best payouts all the time. On the other hand, cryptocurrencies are always good to trade, simple strategies work there all the time. But payout rates change. So you have to choose only times when payouts are good to trade altcoins and Bitcoin.
 

Ociethiel

Village Elder
#39
This makes sense, thank you for sharing your experience. I only watch markets in the morning, perhaps this is why we have different results when evaluating Olymp's payouts.
The information on trading crypt is interesting. I am very sceptical about the future of crypt, but if I'm not mistaken, trading it short term does not involve much risk.
 

Miriraven

Village Elder
#40
I like sleeping in the morning and only get to the trading platform later afternoon. So I guess the secret of difference in observations is revealed. Rates depend on the time of the day. First I felt so sorry I am missing the best cryptocurrencies time! You are right, that when you trade crypto-options with Olymp you don't have to deal with the normal risks of trades who buy altcoins and cryptocurrencies for real.
Anyway, I remembered that Brent has got good rates most of the time when I want to trade. I like trading oil, cause I feel myself an oil magnate, lol. Seriously, Brent is also very good for technical analysis in my opinion.
 

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