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Olymp Trade Minimum Deposit

Olymp Trade Minimum Deposit

 

Overall Rating

4.7/5

Rated #– of 
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

FinaCom

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

28

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

The Olymp Trade Minimum Deposit amount to open a real trading account is 10 (ten) US dollars.  The Minimum Deposit for 1st-time traders might vary based on the trading account type selected. Deposit activation can be up to 72 hours

The minimum deposit amount payable when registering a live account is equal to 146.46 South African rand at the current exchange rate, at the time of writing. Traders must ensure that they stay up to date with the USD/ZAR exchange rate before depositing funds.

They are not regulated by any entity and this is a great cause for concern especially where client fund security is concerned. Regulated brokers are required to keep client funds in segregated accounts separate from the broker account.

This ensures that client funds only go towards trading activities along with ensuring that funds can be withdrawn, without any hassles, at any given time.

 

Deposit fees and deposit methods

They require a much lower minimum deposit amount than most conventional trading brokers when considering that their facilitates fixed time trading.

This low amount means that traders do not need substantial capital to start trading.

The deposit methods supported by them include:

  • Credit/Debit Cards
  • Neteller
  • Skrill
  • Bitcoin
  • WebMoney
  • FasaPay
  • Bank Wire Transfer

They support the following deposit currencies:

  • USD
  • EUR

 

Step by step guide to deposit the minimum amount

After completing the registration on their website, traders can follow these few steps:

  1. Select the option ‘make a deposit’ from the top right corner of the interface.
  2. Traders will be redirected to the payment page where they can select their preferred payment method according to the logos presented on the screen.
  3. Traders can indicate what their preferred deposit amount is.
  4. Next traders can select their currency and click on ‘deposit’ at the bottom.
  5. Depending on the payment method, traders may be provided further instructions to complete the deposit.

Depending on the payment method that traders use, deposits may reflect either instantly or within a few days. Traders must ensure that they understand the processing times of each deposit method before making a deposit.

In addition, traders must ensure that the name on their bank account and the name in which they registered an account is the same. Most brokers prohibit third-party payments and funds are returned to the source in such cases.

Due to limited deposit currencies, traders may be subjected to currency conversion fees. These apply should the trader make deposit in any currency other than EUR or USD.

 

Overall Rating

4.7/5

Rated #– of 
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

FinaCom

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

28

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Pros and Cons

✔️PROS ❌CONS
Ultra-low minimum deposit amount Limited deposit currencies
Multiple reliable funding methods offered
Deposit fees not charged

 

You might also like: Olymp Trade Sign up bonus

You might also like: Olymp Trade Demo account

You might also like: Olymp Trade Fees and Speeds

You might also like: Olymp Trade Account Types

 

FAQ’s

What is the minimum deposit for Olymp Trade?

$10.

How do I make a deposit and withdrawal with Olymp Trade?

  • Credit/Debit Cards
  • Neteller
  • Skrill
  • Bitcoin
  • WebMoney
  • FasaPay
  • Bank Wire Transfer

Does Olymp Trade charge withdrawal fees?

No. Traders may be subjected to transaction fees waived by their payment provider.

How long does it take to make a withdrawal?

This will depend on the payment method used. Payments can reflect instantaneously or take up to several days.

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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