Olymp Trade

Olymp Trade is a big NO

I am always in search of good investment strategies and investing in forex or shares have been my priority. I have made a huge profit by putting my money in these niches. However, recently I came across this Olymp Trade. This happened four months back. I had read about the app a lot and wanted to get some experience myself.

The app provides dummy and real account. You can invest with the dummy account for virtual money which is only to prepare you for the real game. While I was practicing and trying to learn the tricks to get some good money in my account, I figured out that the set up was quite easy.

When I was playing with the virtual money, I was able to make a lot of profit. It was rare that I missed on any of the transactions. That is when I decided how bad it could be. The minimum investment said 10 dollars. However, I thought of starting with $500. They did have the option to withdraw the money but did not know if that worked.

After the real account was activated. I started investing for real. This was not at all similar to the dummy account. I was losing more than I won. I was getting desperate and did not know when I consumed the entire $500.

I thought it to be my bad day. So, I tried with the dummy account for few more days. As the time went by, I realized that it was easy to win with the virtual account. So, I thought of giving the real account a try for the last time. You know, the rewards are shown so beautifully over the internet that anyone would fall for it. I am an experienced trader. If
I could then anyone else could.

But, I was looking forward to one last try. I again refilled my account with $500 and started trading. At first, I won for few trades and then the graph went down. The number of losses again started to grow, giving me an indication that something was wrong.

I also checked the reviews again on the internet and it seemed too good to be true. I realized that all the marketing gimmicks were just drawn to lure traders to invest more and keep trying.

In total, I lost $1000. I would also like to add one more thing. When I tried to install the app, it asked for many permissions. For example, my ID, photos which were irrelevant to the application, I guess. I did allow the app to access that information. However, if this is some kind of scam that works on personal information, I would be damned.

If you guys are also planning to try this thing only by looking at the amazing reviews of other people, believe me, you would repent later. If you wish, you can start with a few dollars and do not take this app rule over your head. I have also seen people, who invest even after knowing that the app is a scam.

Is Olymp Trade a legit?

Olymp Trade is not running a legit business. They are not aggressive towards customer satisfaction and complaint grievance redressal, Hence 31 consumer[s] submitted negative ratings, and only a few left positive feedback.

Where is Olymp Trade located?

Olymp Trade is headquarted at United State. You can contact Olymp Trade by dialing N/A or visit their website static.olymptrade.com.

How much monetary loss is incurred by Olymp Trade’s customers?

According to Olymp Trade’s customers, a monetary loss of US $1000 has been reported. The severity of entire incident reports is high.

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31 Reviews on Olymp Trade

  1. It is good platform if you are an expert in trading.

    It good platform if you are an expert in trading. It provides you maximum returns in minimum time. Obviously there may be High risk so you need to be expert and smart in trading.
    Whereas if question raises against reality and legitimacy, it’s obvious for me till today there is no any cheating and manipulation in trading.
    Best factor of this platform is fast withdrawal and deposit.
    Withdrawal may be immediately or may take 1-5 work days to deposit your Bank.
    In my last withdrawal I became nervous as it did not give me instant withdrawal but I realised that it was some technical issue in transaction.
    I was right I got my fund credited in my bank within 72 hours from withdrawal..

Reviews: 31
Reported Loss : 1000 $
Severity : High
Reported by : Anonymous
Views :