The Olymp Trade platform is used by traders around the world. Many ask, “how to change currency in Olymp Trade?” This article will answer that question. We will look at how to set the currency for your account, change currencies in an account, and deposit and withdraw in different currencies.
Which Currency is Used on Olymp Trade?
Two main currencies are used on the Olymp Trade platform: EUR and USD. Though deposits and withdrawals can be made in more than one currency, the platform only uses two to simplify executing trades. Make deposits in Rupee, BTC, or most other currencies, and they will be instantly converted on the platform.
When you open your account, you choose the currency you want to trade on the platform. Both currencies can be used in all three trading modes: Forex, Stocks, and Fixed Time Trades. Get profits in EUR or USD and build your balance in one of the world’s strongest currencies.
Can I Change the Currency in Olymp Trade?
You cannot change your account's currency. But to answer “how to change currency in Olymp Trade,” you have two options:
- Add a new account in the currency of your choice and archive the old one.
- Create another account (aka Multi accounts).
For option 1, note that you must add another trading account before archiving the old one. There needs to be at least one trading account active at all times.
An archived account will automatically become active if it receives funds. This may happen if you send money to one of your accounts and archive it before it arrives.
See how else you can use the Olymp Trade platform to make profits here.
How to Change Currency in Olymp Trade: USD to INR
This overview of how to change currency in Olymp Trade has shown the benefits of using Multi Accounts as a way to switch between currencies on the platform. But converting USD to INR is done automatically when withdrawing funds to an Indian bank account.
Some payment platforms like Skrill may allow you to receive money in USD and convert it into Rupee within the account or before withdrawing it.
How to Change Currency in Olymp Trade: EUR to USD
You cannot change the account currency once the account has been set up. However, thanks to Multi Accounts you can work around this issue.
Olymp Trade Multi Accounts is a solution that allows traders in India and other locations to create up to 5 accounts within the same profile. These accounts are linked to make it easy to quickly transfer money from one to another ? just like moving money in your banking app.
Why Multi Accounts Are Useful
Managing your funds from one control panel has many pros. With Olymp Trade Multi-Accounts, you can:
- Use a separate account for a certain strategy, trading mode, or payment method.
- Create a safe-haven account to keep a part of your funds protected from market turbulence.
- Compartmentalize your profits by using individual accounts for various investment goals.
- Make instant and easy funds transfers between the accounts.
Adding a separate account for testing a new strategy, investment style, or a trading mode is very convenient. It allows you to create a sandbox environment for every approach to better assess its profitability.
Creating a safe-haven account helps you isolate your emergency funds from the rest of your money and the risks you take.
Separate your trading into different accounts to make profits from different trading styles, currencies, and your vacation fund isolated. This is a good technique if you plan to use trading to reach multiple financial goals. Having them separate makes tracking progress simpler in terms of horizon and priority.
How to Add Multi Accounts in India
Adding an account to the existing one is simple enough. Go to the platform and follow these 5 easy steps:
- From your account, open the Accounts menu.
- Click the Plus icon in the top right corner of the screen.
- Select the currency.
- Choose a name and click Create an Account.
- Repeat to add more accounts.
Now, you have a new account to store money for emergencies. You may add as many accounts as you need to meet your various goals.
Switching Between Accounts
Switching between your accounts is easy. Follow these steps:
- Click the box showing the account you are using and its balance. Your Accounts menu opens, showing the accounts you currently have with the option to add more.
- Select the account you want by clicking it.
- Start trading in that account.
Your Multi Accounts can be accessed through the Olymp Trade browser and desktop platforms. To install the desktop version, find the Olymp Trade download here.
How to Change Currency in Olymp Trade with Withdrawals
Withdrawing money from your Olymp Trade account is easy, just like depositing. When you withdraw money to an account in rupees, the money should be converted automatically. However, there are some payment services like Skrill or Neteller that may require you to convert your money after it has arrived in that account.
Submitting a withdrawal request takes just a few minutes to file. In most cases, your money will be transferred within two days.
In rare cases, the withdrawal process can take up to 5 days to complete. Most delays are usually caused by banks or e-wallets that require additional information.
Additionally, Advanced and Expert Status clients are given priority and enjoy even faster withdrawals. This means they shoot to the front of the line.
How to Request an Olymp Trade Withdrawal
- Press the Payments button in the top right corner.
- Next, press the Withdraw button.
- This window shows your balance consisting of your deposits, bonuses, profits, and the amount available for withdrawal.
- Withdrawals are made to the same payment system with which you made a deposit.
For example, if you deposited with Skrill, you will have to withdraw funds back to Skrill. The logic continues, if you made a deposit using a bank card, you would have to withdraw the money back to the same bank card.
How quickly you receive your funds back into your payment system also depends on the payment system itself.
If you have any problems depositing or withdrawing funds, you can always contact the Olymp Trade support team, who will be happy to help.
Also, don't forget to visit the Help Center. Here, you will find information about deposits, withdrawals, and features of various payment systems.
Conclusion: How to Change Currency in Olymp Trade
It was a long road to travel to answer the question, “how to change currency in Olymp Trade?” We learned a lot along the way about how Olymp Trade accounts work. Changing the currency in your account can’t be done once it is set, but at least you can open multiple accounts to meet your needs.
Your money is automatically exchanged when it is deposited into your account and vice versa when withdrawing money. Olymp Trade has made changing between currencies simple. Take advantage of all this platform has to offer.
See what else awaits you on your next favorite platform.
