If you landed on our website, that means that you’re probably looking for all the relevant information you can find about Olymp Trade India and how to begin your online trading adventure. Rest assured, we’ve got you covered.
We’ll go through all you need to know about investing in Olymp Trade India, the platform’s legal status, and a couple of tips and tricks to keep you safe in this rapidly expanding and dynamic domain.
We did a study regarding Olymp Trade India. Whether or not the platform is legal to use in India, we also asked company representatives to get the correct answers. We did the hard work, so you won’t have to. All you need to do is start reading and deciding on your best investment options for the present moment and the following years and decades.
Ready to start reading everything there is to know about Olymp Trade India? Are you eager and excited to know what online trading is all about? If your answer is yes, then keep scrolling to find out more.
- Is Olymp Trade Legal in India?
Is Olymp Trade Legal in India?
Yes. We would have to say yes, yes, but there’s a catch to answer the “is Olymp Trade legal in India or not?” question. And that catch is that there’s no law in India stating whether or not this form of online trading is legal or illegal. Which technically and practically makes it legal until new (if any) regulations will come into place.
But until then, we got in touch with the legal representatives of Olymp Trade in India and asked them to tell us more on this subject, as we know that this is of high interest to you, our readers. We always want to bring you the latest, most updated, and most relevant information in the industry, and with the Olymp Trade India article, we wanted to make no exceptions.
Their legal representatives told us that India has no regulations, laws, or prohibitions regarding Indian traders on the Olymp Trade platform. This means that Indians are allowed to trade freely regarding stocks, commodities (gold, silver, platinum, and so on), ETFs, cryptocurrency, and anything else made available by the trading website and app.
Olymp Trade has an incredibly high number of customers in India, which adds to its credibility and official status as one of the world’s most popular online trading platforms with a strong presence.
The trading platform is also a member of the Financial Commission, a regulatory institution in charge of regulating various online trading platforms to ensure that they function in complete accordance with the Indian laws.
Olymp Trade India has an official certification received from the Indian Financial Commission, which can be found on the institution’s official website right here: https://financialcommission.org/olymp-trade/ .
Olymp Trade in India has undergone several investigations by the official Financial Commission, which concluded that the online trading platform meets the required best practices and high standards required for operating in the country.
Such a positive result and investigation conclusion means that Olymp Trade users in India are safe to buy, sell, trade currencies, stocks, forex, ETFs, commodities, and all the other things offered by the platform.
Not only does this official certificate give a clear answer to the company’s legitimacy, but it also offers all traders a higher form of protection against a broker’s fraudulent activities, and it also helps prevent dangerous cybercriminals from getting ahold of your funds.
So, is Olymp Trade legit? The answer would be yes, but always keep a close eye on the platform and the news evolving around it because you’re dealing with your own money, and you want to keep it as safe as possible.
Is Olymp Trade safe in India?
Yes! When answering these questions, the best thing you can do is answer straight upfront and then give all the extra information that will make your answer complete. Although the legality for online trading in India is tricky, this is due primarily to the country’s weak governmental regulations in this field of activity.
Online traders are not to blame for this high level of uncertainty because they’re not the ones creating it. It’s all up to the country’s officials to regulate and make clear and concise laws for online trading platforms.
Olymp Trade officials have told us exclusively that most of the nasty rumors surrounding its legitimacy come from competitors trying to deceive new users from signing up to their platform.
Sure, anybody can say this, but given how popular Olymp Trade has become over the past couple of years, we can see why some of their competition would like to drag their brand through the mud.
So is Olymp Trade genuine or not? That’s the question on everybody’s lips, and websites that spread rumors about the company earn a lot of ad revenue from clickbait titles. This is why it is strongly advisable to read-only posts and articles that offer all sides of the story.
However, suppose you’re ever in doubt about whether or not the company operates legally in India. In that case, you can always contact their customer support via email, live chat, or even by phone. They’ll always have all the answers you are looking for, and you can even hold them legally accountable in the event they’ll tell you something that’s not true.
Olymp Trade India legal status – let’s elaborate a little more on this topic.
Olymp Trade’s representatives have told us that their company has successfully passed all the stages and legal requirements to be marked as a safe, modern, and trustworthy online broker. And these tests follow not just Indian legislation but also international regulations in the field of online trading.
The international conglomerate is also a member of the financial commission called FinaCom, which you can read more about at the following link: https://financialcommission.org/en/members/participating-members-of-the-financial-commission/ .
Having such esteemed credentials, you can trade on the platform even without depositing into your Olymp Trade account. This means that you can try it with a demo account, for free, without having to invest any of your real money.
You can get acquainted with the platform without losing a single penny. After you think you can handle the ups and downs of online trading, you can deposit money into your real money account using your recently created username on Olymp Trade.
Offering its users the option to start online trading without giving Olymp Trade any money straight from the start is a massive plus for a company’s credibility. This shows that they’re not just after your money; they’re also interested in providing a high-quality product with a free sample.
If you don’t like the products and the services offered by Olymp Trade, you can choose another prestigious international trading platform and start managing your investments from there. It’s as easy as that. You have the option of choosing where to deposit and invest your money without being tied to one specific platform.
It’s the beauty of competition and a capitalist environment. Competition not only leads to better products and services for the end-users, but it also builds more extensive, better, and more reliable companies that contribute to the Indian economy. Wouldn’t you agree?
Can Olymp Trade Be Trusted?
The issue with trusting online trading platforms has been a current topic on Indian forums for decades now. And that’s understandable! People tend to lose credibility in any website that promises them the opportunity to get rich.
Who would offer anyone something for free, especially when we’re talking about money? This is why you should always stay away from platforms that provide you with guaranteed winnings. Remember what we said at the beginning (and what we’ll keep saying until the end) – there’s no such thing as a 100% safe investment.
So, is Olymp Trade genuine? Yes, it’s a genuine online trading platform, but they have been victims of bad publicity propagating online by their competitors.
Bad reviews, nasty comments, and many Facebook posts have been written online by Olymp Trade, but that applies to all the other big online trading platforms. These reviews and comments have also been shared by people who lost money and have had their accounts closed for violating the Olym Trade Terms & Conditions.
This is why you should always read any agreements, terms, and conditions before clicking “accept.” You never know what you could be giving your consent to and then realize that you cannot withdraw your funds, or even worse, having your account closed.
Another word of advice from Olymp Trade is that you should never start directly with actual money trading. Not until you’ve got better acquainted and used to how the platform works. It would be best if you were in control of what you’re buying and selling to minimize the risks you are exposing yourself to. At least that’s the smart way to trade.
But let’s look a little at the awards received by Olymp Trade to get a better idea about how appreciated this platform is around the world and throughout the online trading community in India.
To point out a few of the prestigious awards received and won by Olymp Trade: Best FX Trading Platform Forex Expo 2020, Best Trading Platform (Forex in Asia (2018), Best Financial Broker, Best Mobile Trading Platform, Fastest Growing Broker 2016, Best Broker 2017, Best Trading Platform 2016, Best Customer Support Broker, Best Financial Broker, Innovative Broker, Best Traders FB Community in Thailand, Best Mobile Trading Experience and the list can go on and on.
But we don’t want to bore you with long lists of award titles and organizations that offer these prestigious prizes because you can quickly check them out for yourself on their official website if you decide to open an account with them.
These awards show the hard work and dedication behind such a huge trading platform, and they also are a symbol of credibility for traders from around the globe. It’s much safer to trade on internationally-known platforms than to register to no-name newly-created websites. RIght?
Legal Status of Olymp Trade Trading in India
The legal status of Olymp Trade and any other online trading platforms which offer their services in India can be verified right here:Â https://financialcommission.org/olymp-trade/Â
You can check for legal certifications given by the Financial Commission, which allows online traders to operate in India. Even Though the government institutes no precise regulations, international laws apply to online trading, which all legit platforms must abide by.
Olymp Trade, a popular international online trading platform launched in 2014, is registered under Saledo Global LLC, with legal headquarters in St. Vincent and the Grenadines.
Olymp Trade has over 25 million users worldwide and has a stated mission of making Forex trading transparent and affordable to everyone. Thus they managed to conquer such a significant market share in their domain.
All the activities conducted by the company are regulated by the International Financial Commission, offering trading without spread and one price per each of the 42 assets they have available.
Not only can you find currency pairs on Olymp Trade, but you can also trade metals and cryptocurrency. All the online trading done via Olymp Trade goes through a web platform, which means you don’t need to install any software. It’s easy to use even for beginners, and that’s what makes it so popular.
For a better technical analysis, you can analyze several trading charts through 4 different designs, such as Japanese candlesticks, Heiken Ashi, and 19 other indicators.
As with any suitable platform, they have 24/7 customer service available for anyone who has questions or encounters any issues with Olymp Trade. You can contact them via email ([email protected]) and by telephone hotline (02271279540). It’s all up to you and up to your preferred contact method. Either way, it’s always safe to contact their support team if you have any problems because this is the fastest way to solve them or to get an answer to your questions.
Is it safe to deposit money in Olymp Trade India?
25 million users would answer yes since many people have an account registered at Olymp Trade. This is a considerable credibility degree this platform benefits from. You rarely find a platform with so many users that encounters credibility issues.
Most of the time, when it comes to online trading, the difference between a successful platform and a failed one comes from its online reputation. You’ll succeed if you have a positive reputation online because the winner takes it all in this field.
If people encounter trust issues when signing up or when they begin trading on your platform, word will quickly spread around, and you are bound to go bankrupt in a matter of months, if not days (or even sooner than that!).
Olymp Trade reaches $8 million in average monthly payouts, which means a lot!
This number refers to how much money they send back to their users every month, and the numbers keep getting higher and higher.
The platform reaches an estimated 30 million monthly transactions, showing the massive volume of business on Olymp Trade.
Such numbers place Olymp Trade among other top online trading platforms that offer their services globally.
And one of the most impressive numbers by far is the $150 million in monthly trade turnover created by Olymp Trade.
When you reach such huge numbers, if the top management team knows what it’s doing, they’re bound to increase their earnings even further. It’s just a matter of who’s calling the shots.
So depositing on Olymp Trade is as safe as depositing on any other trustworthy trading platform in India, and you also have a lot of depositing options.
You can deposit on Trade Olymp using credit or debit cards such as VISA, VISA Electron, Mastercard, through e-wallets like Skrill, Paytm, and a few more options, and you can even use classic bank transfers. Still, they may take longer than the previously mentioned payment methods.
Be sure always to check the available payment methods (both for deposits and withdrawals) in your region or country, and always choose the one that charges you the lowest fees. Usually, there are no fees charged for depositing, but that’s a different story regarding withdrawals.
Specific fees may apply based on the chosen withdrawal methods, and the processing time may also vary. The fastest payout methods are usually e-wallets, but then again, that can be subject to change.
Always check the terms and conditions and stay updated with Olymp Trade’s official communications. It helps to be subscribed to their newsletter because this way, you’ll always know what’s up the moment a feature, an update of terms, or anything else pops up online.
Remember, we’re talking about your money, so you can never be too careful. Trust us; due diligence pays off in the long run, so be sure to do yours!
How does Olymp Trade Trading Work in India?
Opening an account on Olymp Trade in India is no different than opening an account on any other trading, forex, stock exchange, or cryptocurrency platform. So if you’ve ever gone through this process before, signing up for Olymp Trade will seem pretty straightforward.
You’ll need to provide your Full Name, Address, Email Phone Number, and, in some situations, even a Proof of Address (a recent utility bill with your name and address on it). It’s similar to opening a bank account, so don’t be surprised if they require all this sensitive information.
They collect it to secure your account against cybersecurity attacks better and prevent hackers from getting ahold of your account. This way, your money stays safe, and you can relax while trading.
After you have provided all the requested information, your account will be verified in a specified period (usually no longer than three to five business days), and you can start depositing and withdrawing funds without restrictions (unless otherwise stated).
Online trading is a risky activity, and you can never know how the market will go. It can rapidly go up, and just as fast, it can also crash, so be sure never to invest more than you are willing to lose.
Investments are not a sure thing, and nobody can guarantee that you will get rich. Most likely, if you don’t do your homework right, you’re bound to lose all the money you place into your account. So be sure to trade wisely and do thorough research before depositing real money on any online trading platform.
Before signing up to any online trading platform, please make sure that you’ve read their terms and conditions and that you’ve done some serious research upfront. You can never be too safe when you’re dealing with your hard-earned money.
Every time we talk about investments and investment opportunities, please remember that we are not financial advisors and what we write is purely informative. Even this article about Olymp Trade India is to acquire all the necessary information you need to make a good decision regarding your money.
Since you are probably thinking about beginning your investment journey through Olymp Trade India, you need to know that no investments are 100% safe. All investments come with financial risks, and whenever you’re investing your own money in something, you should do as much research as possible.
Investing through Olymp Trade India can get you a pretty penny, but at the same time, if you don’t know what you’re doing, you could wind up losing everything you’ve deposited on the online trading platform.
India is still not regulated for investment platforms, and this can be seen both as an opportunity and a bad thing. However, if you play your cards right and stay updated with all the latest laws, regulations, and investment opportunities, you could build a very stable passive income for yourself in the years to come.
What other online trading platforms are you thinking about using?