What is Olymp Trade Minimum Deposit?
With this trading system, you can recharge your real account for $10 only. If using local currency, the value credited is equivalent to $10. Just be sure to check the prevailing exchange rates to know exactly how much you should deposit in your local currency.
Olymp trade is a platform that surely supports your financial aspirations. That's why Olymp Trade minimum deposit is set to a value that people with humble budgets can afford. It enables you to easily earn money from trading even with minimal capital.
It's noteworthy that Olymp Trade operates two VIP accounts whose minimum deposits start at $2000 and $500. These accounts are specially designed for people with expert skills. The system upgrades you to the respective VIP account when you deposit money worth the said amount.
Olymp Trade Account Base Currency
The system supports USD and EUR but you can always set your account to operate in other currencies. This means whatever amount you pay from your local currency will convert and appear in either USD or EUR. You'll be asked to set the currency of choice when creating your account.
Olymp Trade Funding Methods
Olymp Trade provides over 10 ways for users to fund their accounts. To view the options, you should log in to your profile and click “make a deposit.” The algorithm will lead you to a menu to select payment modes. The funding options popular with most users are credit and debit card deposits. But traders can also fund their accounts via bank transfer, an eWallet such as GlobePay and Skrill or local money transfer methods such as Mpesa if in Kenya. Each funding method comes with set instructions so let's look at them below:
Credit and debit cards are age-old virtual payment methods. Most people own these cards and are convenient. This makes it reasonable for an online trading platform to include them as part of their payment modes. Olymp Trade accepts Visa and Mastercard.
One of the payment options you'll see on Olymp Trade is Bitcoin. You can comfortably pick this option if you hold cryptocurrencies such as Bitcoin, Ethereum, and Tether. Just like any other payment option, you enter the value of money to fund your account in EUR or USD and select Bitcoin as your preferred funding method. The least deposit value when using Bitcoin is, however, $150 but you can include a promo code if you have any.
You can also operate a USDT account on Olymp Trade, a profile that allows you to trade and transact in cryptocurrencies. USDT is a cryptocurrency offered on various blockchain networks such as Ethereum and Bitcoin. The company requires you to own a non-custodial crypto wallet to transact with USDT on their platform. You may create your eWallet on Exodus, Trust Wallet, Coinbase, or any other. The process of funding your account with USDT is similar to using any ePayment system.
You can load your account at Olymp Trade from monies in your local bank account through bank transfer. The platform doesn't charge any fee to accept payments. Nonetheless, you should confirm with your local provider if they charge anything for bank transfers.
Wire transfers are quick and secure. It's thus preferred by most companies who receive funds online. Olymp Trade is no exception. Just make sure you provide the correct details required for a smooth wire transfer process such as SWIFT/BIC code, your account details, and your bank name.
ePayments are fast, reliable, and cut across regional barriers. That's why they are good payment options on any online trading platform. Electronic funding methods at Olymp Trade include Neteller, PerfectMoney, GlobePay, AstroPay, FasaPay, and others. You need an active account with the electronic payment system you are going to use on Olymp Trade.
Local funding methods
Olymp Trade has gone a step further to include funding methods that are popular within certain regions or countries. These will only appear on the payment menu of the traders within the country. For instance, Olymp Trade users in Kenya will find Mpesa as one of the funding methods appearing on their payment menu. Clients in China will also be able to pay with China UnionPay.
Olymp Trade Deposit Bonus
Olymp Trade is an awesome platform that awards bonuses to any funds you recharge your account. It's a simple method to grow your capital with no extra effort. Have in mind that the bonus isn't withdrawable and goes into growing your profits only. But you'll be able to cash out anything you earn on the bonus. The bonus paid on deposit can go up to 100% of the value of cash you are depositing. The system offers you an option where you need to click to activate your bonus.
Can I have Multiple Olymp Trade Accounts?
Yes. Olympic has a multi-account function that makes it possible for users to create up to 5 interconnected live trading profiles under one trader ID. In addition to these accounts, you could choose to keep your demo account as well. You may create accounts running in several currencies such as EUR, Crypto, USD, and some local currency. It's up to you to decide what you wish to do with the accounts. For instance, you could set an account for holding profits, and another for a certain strategy or trading mode.
How to Withdraw Funds on Olymp Trade?
To cash out funds:
- Select the account you wish to cash out from.
- Tap "Payments". Now, click "Withdraw".
- Put in the value of the money you wish to cash out.
- Follow the system's prompts to complete the output.
It's helpful to have in mind that you can only cash out funds via the method that deposited the funds.
Olymp Trade minimum deposit vs other brokers
Olymp Trade minimum deposit at $10, this company is among the brokers with the lowest entry requirements in the market. If interested in a robust online forex tool with competitive trading requirements, Olymp Trade min deposit and low spreads will match your needs.