Everything you need to start trading on the platform.
With the world still struggling to deal with the pandemic’s consequences, it becomes vital to have additional sources of income, and online trading provides just that. This article will cover how the Olymp Trade login process works. We will also see what this platform has to offer to its users so that you can decide whether trading is for you. Now, let’s dive in.
What is Olymp Trade: The Basics
Olymp Trade is a well-known online trading platform that’s been around since 2014. It is fully regulated by the International Financial Commission and works in line with local laws, so you don’t have to worry about it being a scam.
On the platform, traders make trades on an asset for a certain period of time, earning a profit if they can accurately predict the way its price changes. Once you complete the Olymp Trade login, you can start trading. There are three trade modes: Fixed Time Trade, Forex, and Stocks, each with its own set of rules.
For each mode, a list of various assets is available. They range from currency pairs to stocks to cryptocurrencies and everything in between. After completing the Olymp Trade login, you can choose the trade mode on the platform, then choose your favorite asset, and that’s about it on the trading front.
Of course, there are always more little options that you can use to fine-tune your trading experience. All of them are here to make your trading feel more personalized and to better suit your needs. But at the same time, you can easily trade with the default settings once you’ve registered your account.
How to Register if You Don’t Have an Account: Step-by-Step Guide
Before you can complete the Olymp Trade login, you need to register your account. Thankfully, it is a simple and straightforward process where little can go wrong. Here’s how you do it:
- Follow the link.
- Click Start Trading.
- Provide your email and phone number. This is required for account verification and security.
- Create a secure password.
- Pick your trading account currency. If you want to make a deposit, you can easily make it via bank cards; e-wallets; a cryptocurrency.
- Select Live Account or Demo Account.
- Verify your account.
- Begin trading.
As you can see, registration is easy and doesn’t require anything complicated from traders. You just need to follow the instructions provided by the platform (or this article), and you’ll be golden. After that, you can start trading on any asset you wish.
Despite that, there is more to learn about the platform itself and what options it presents to its traders. You can find out more here.
How to Log In to the Olymp Trade platform?
The process of the Olymp Trade login by itself is incredibly simple. You can do that as soon as you’ve registered your account. To fully enter the trading platform, you need to:
- Go to the Olymp Trade website.
- Click on the Log In button in the top right of the screen (or on the top in the mobile version).
- Enter your username and password (most browsers save login information, so you don’t have to enter it by hand every time).
- If you are logging in from a new location or from a mobile device, you’ll need to enter a verification code, which will be sent to you via SMS.
- Enter the code, if needed.
- That’s it, you’ve successfully logged in to your account and are free to start trading.
It is also recommended that you use a two-factor authentication to secure your account and funds against hackers.
Olymp Trade login is a simple but necessary procedure. Once done, you will be able to access the trade room, the assets, and, more importantly, the educational materials that the platform provides to all its traders. Once you’ve chosen between the demo and live accounts, you’ll be able to participate in trading.
However, if you want to make a profit from trades, you’ll need to deposit money into the account first. And for that, you’ll need to complete verification of your profile. It is required by Indian law and needed to secure your money further. You can find more information about that process in our previous article.
Using the Olymp Trade Demo Account
Think of it this way: an Olymp Trade demo account is a ‘sandbox’ for practicing strategies and analysis. Traders can do whatever they want and just reset it when they’ve lost too much. Quality demo accounts trade exactly like live accounts. However, instead of using real money, the account trades in demo dollars.
Olymp Trade’s free demo account trades in real-time, allowing users to learn to use indicators, trading tactics, and money management strategies in live markets.
Each account has 10,000 demo dollars which can be replenished an infinite number of times. The feeling of making an investment into a live market based on your own analysis and following your chosen strategy is truly incomparable and a bit scary. That feeling is amplified with real money. By practicing in a demo account, you remove some of the fear around the opening and closing of trades because you learn to trust your process.
How to Access Your Demo Account
Switching between your accounts is easy. In the top right corner of the platform, you will see your account balance. It will show a Demo Account, USD Account, EUR Account, or other with its respective balance below it. Click that button to open a drop-down menu to select between your cash and demo accounts.
Trading Modes and How to Switch Between Them
Olymp Trade offers three different trading modes: Forex, Fixed Time Trades, and Stocks. Each has its own perks for different trading goals. Switch between them and find the one that best suits your trading style.
- Forex: traditionally, this style of trading pits currencies against one another (exchange rates). Forex is the largest market in the world, with trillions of dollars moving through this market daily.
- Fixed Time Trading: this mode is based on forecasting the price of an asset: stock, commodity, index, or forex pair. It is one of the simplest forms of trading available today.
- Stocks: the newest trading mechanic on the platform based on the more traditional position trading where stocks are the underlying asset. This mode makes trading on stocks easy and potentially more rewarding in the long term.
Switching between trading modes is essentially the same as switching to the demo account.
- Above the top left corner of the chart, find the Asset menu. It should display the name of the asset on the chart.
- Click it, and It will show the mode you are in with the list of available assets below.
- Choose the mode you want to trade in at the top, and select the asset to trade below to complete the switch.
Start Your Trading With Olymp Trade
With all that completed, you can finally start your trading career with Olymp Trade. Just keep in mind that the Olymp Trade login is just the first step toward trading. There will be challenges and difficulties ahead, but you can minimize or even completely avoid them with the right information and training. So keep learning, keep trading, and keep profiting.
