Olymp Trade

Olymp Trade is a SCAM

The worst scam doesn’t look like a scam at first sight. When I lost my job due to the COVID crisis, I started looking for some alternative ways to earn money from home. This is about when I ran into Olymp Trade. In the local online community, I’ve seen guys discussing market analysis methods and the ways to make correct price forecasts.

Sure enough, I got interested! They seemed to be so educated and discussed Olymp Trade as if it really was the source of some decent money and if trading was a real full-time job for them. Fibonacci levels, moving averages, FOMC meetings, and many other words were unfamiliar to me, but I was eager to learn! I watched several youtube videos where people were trading at Olymp Trade.

They seemed to be live trading sessions where they showed how easy it was to make a couple of hundred bucks in just an hour or two at max! SCAM, SCAM, SCAM! I bet all the live streams that weren’t that successful have been deleted from Youtube, leaving only the videos showing how easy that was to predict the markets.

There were Olymp Trade stuff videos too. Olymp analysts were trading live and explaining what they’ve been doing and why having tournaments and sharing tips and tricks. Scam again! Once you start trading and try repeating all they’ve been doing, you’ll see that trading on a live account where you risk the money is not that easy at all.

There are hundreds of details they don’t tell about in their videos. I.e., they say, “Trade along with the trend.” OK, that’s easy, I can do that, I thought! Yet, it turns out that trends can be different on various timeframes for analysis when determining the trend.

Hourly charts may show a strong uptrend, the 15 min chart will indicate the flat price move, but a 1 minute-bars chart can show a strong downtrend. Which one is correct, huh? Olymp Trade analysts don’t say that. I don’t know, maybe they’ve got some experience to do what they do and have that “feel” of the market that allows them to make money with trading, but normal people like me can’t! I am not a lazy guy that wants to grab some cash and run. I really tried! I tried following all the advice, learned all about Fibonacci levels, and know what the trend is, and I know how to adjust indicators and use them.

But I can’t make money with Olymp Trade as they promised I could. I used the demo account first, and the results weren’t too bad there. Of course, my balance has had its ups and downs, but in general, I could see that this is quite possible to grow the account if you work hard and trade actively. Then I deposited my first $50, and… I lost it all within 2 days! OK, maybe I’ve been impatient and shouldn’t have made some of the trades I did with the Olymp Trade live account? – I thought.

I tried the demo again, again all was fine, and I deposited $100. The same story happened! I took a break from trading, got a normal job, but making money with Olymp Trade thoughts didn’t leave me completely. When I could afford it, I deposited $500 and applied for Advanced status. It was easier to make some money with advanced status as it provides better returns for each trade.

Nevertheless, the Traders Way Olymp Trade scam program is designed to make people trade more actively than they should. Getting experience points and completing the daily tasks becomes nothing but an addictive game.

Gamber! That’s who I turned to become with Olymp Trade scam company. They encourage you to gamble with their rules and experience points and rewards while speaking in their videos about how serious and responsible you’ve got to be when trading.

What hypocrisy! I’ve lost a total of $650 with this Olymp Trade casino, and this is the end. I’m not giving them a single penny anymore, and I advise you to do the same and quit trading with Olymp Trade even if you do now. Don’t deposit anything to a live trading account with Olymp broker if you plan to do so!

Is Olymp Trade a scam?
Olymp Trade is a scam and a bad service provider as per the report filed on dirtyscam.com. They are not aggressive towards their customer satisfaction and complaint grievance.
Is Olymp Trade legit?
First Olymp Trade is not a legit business owner or provider. You must take necessary precautions/measures before buying or using their services.
How many reviews are submitted by Olymp Trade’s consumers?
There is/are 1 review(s) posted about Olymp Trade and it indicates that the severity of the scam is High.
Where is Olymp Trade located?
Olymp Trade is located at Kuala Lumpur, Federal Territory of Kuala Lumpur, Malaysia. You can contact Olymp Trade by dialing N/A or visit their website N/A before filing a lawsuit. We are no way affiliated with better business bureau or yelp reviews platform.
How much monetary loss is incurred by Olymp Trade’s customers?
According to the report(s), US $650 was the total loss incurred by Olymp Trade’s customers.

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Reported Loss :650 $
Severity of Scam :High
Reported by : Anonymous
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