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 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 21 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 United States. You can contact Olymp Trade by dialing N/A or visit their website static.olymptrade.com 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 $1000 was the total loss incurred by Olymp Trade’s customers.

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21 Reviews on Olymp Trade

  1. Each word is correct similar experience with me lost 25000₹ in a day

    I have the similar experience. Lost25000₹ in a single day in olymptrade. They are real cheats. I don’t know why the Indian govt is assisting these fraudsters

  2. You trade successfully.

    You are totally right by saying that not every company has such diversity. That is absolutely true, and it gives so many opportunities to trade successfully.

  3. I want to make the most of this broker

    This broker attracted me with a slew of unique opportunities. In particular, I’m interested in its risk-free trades. That’s a possibility to trade at the cost of the broker. Of course, the broker can’t give a lot of such trades even to large deposit holders. But just imagine that you can enter the market at the right time and place. In this case, you can count on good gains, while risking nothing. In the worst case, you will preserve your money. So, I’m currently working on the possibility to become their Expert user.

  4. Olymp Trade 2021

    Good broker. I like that they do not impose bonuses. According to the company’s rules, bonuses can only be used for trading and making a profit. You cannot withdraw them. The money earned can be withdrawn at any time.
    By the way, their analysts are sometimes wrong. Sometimes the chart went exactly the opposite direction than they predicted. They still have an interesting experience point accumulation program. But you can only get profit from these XP if trading is like a job for you, if you trade often and a lot. Points expire once a month, so there is no reason for newbies to earn them.

Reported Loss :1000 $
Severity of Scam :High
Reported by : Anonymous
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