Table of contents:
- 1 How to Make Olymp Trade Deposits:
- 2 Olymp Trade Minimum Deposit:
Olymp Trade has an array of channels through which you can make deposits into your trading account. This wide array of channels gives traders from different parts of the world access to multiple channels; as such, the inaccessibility of some services in their country cannot be a barrier.
The minimum deposit on Olymp Trade is $ 10.
The methods through which you can deposit capital into your Olymp Trade trading account include:
- Card Payment
You can also make payments via debit or credit cards. Supported cards include those powered by Visa and MasterCard.
The processing time for deposits is instant.
- Electronic Wallets
You can pay through FasaPay, Skrill, Neteller, WebMoney and AstroPay.
Deposits via E-wallets should reflect in 24 working hours.
Although recently introduced, Olymp Trade is one of the first online brokers to facilitate cryptocurrency payments. However, Bitcoin (BTC), Ethereum, and Tether is still the only allowed crypto coin through which you can make deposits.
How to Make Olymp Trade Deposits:
The steps involved in making deposits slightly differ based on the deposit channel you are making use of.
Are there deposit charges and commissions?
Olymp Trade does not charge any amount when you make deposits and withdrawals. You can do so many payments like you want without any fees.
Credit / Debit Card Payment
If you wish to make a deposit via your MasterCard or Visa-powered debit or credit card, take the following steps:
Step 1: Login your Olymp Trade account and go to the left-hand corner of the trading platform. There you find “Deposit.”
Step 2: Upon clicking the Deposit section, an array of options through which you can make payments are displayed. Select the “Visa and Mastercard” icon.
Step 3: Upon selecting this, you see a page that displays a form for you to fill. You are expected to fill the details required; these include:
- Card Number: The 16 digits on your Visa or MasterCard card.
- Cardholder name: The name must be typed exactly the way it is typed on the front of the card. We recommend that the card belongs to you.
- Validity: The date on which the card is due to expire.
- CVV: Card Verification Value; can also be referred to as the CVC – Card Verification Code. This is found at the back of the card.
You then click “Pay.”
Electronic Wallets Payment
Paying via E-wallets such as Neteller, Skrill, WebMoney, and AstroPay requires different steps for each e-wallet option.
You are advised to go through the payment instructions for each e-wallet; check the availability in the country where you are located and the charges that apply to depositing through that e-wallet.
These are essentially the same steps you take when you want to pay via cryptocurrency.
- And some more (depending on your country)
Olymp Trade Minimum Deposit:
With OlympTrade, what you have to pay is mainly dependent on the type of account that you get to open with OlympTrade. The minimum deposit is only $ 10. Moreover, if you want to do a withdrawal the minimum amount is $ 10.
Types of Accounts with OlympTrade
There are 3 types of accounts that you can open with OlympTrade; they are summarised below:
The Standard can be referred to as the “basic” account; with OlympTrade’s Standard Account, you only need to put up a minimum deposit of $10 (or its equivalent in the accepted base currency) to be able to trade. For each trade, the minimum amount you can risk is $1. The maximum tradable amount is, however, $2,000; that is, you cannot risk more than $2,000 for each trade you enter.
The minimum payout for successful trade with the Standard Account will attract a minimum payout of 85%.
If you are a user of the Starter Account and wish to withdraw, the minimum amount you are allowed to withdraw from your account is $10. There is, however, no maximum. The standard account offers spreads in the region of 1.1 pips.
The advanced account is available for $ 500. You will get higher payouts of up to 84%. The commission rebate on forex trading is 10% and you will get faster payouts of profits. There is not so much difference between the starter and the advanced account.
Besides that, you get access to advanced strategies and special education material.
If you want to make use of a VIP account, you have to deposit at least a minimum of $2,000.
Probably because of the amount involved, this type of account offers a wide range of benefits that you do not get to enjoy with the Standard Account. These benefits are listed below:
- Maximum Tradable Amount: With a Standard Account, the highest amount you can put for a trade is $2,000. This threshold is significantly increased with the VIP account; with this account, you can put up as much as £5,000 as risk capital per each trade.
- Access to Trading Consultants: If you hold a VIP account, you have access to personal account managers and consultants. These consultants have experienced analysts who can cater to all your needs as regards trading; they can also serve as a source of profitable trading signals.
- Additional Training Tools: VIP account holders also have access to comprehensive trading education, as well as personal trainers.
- Available Payout: The maximum payout for a successful trade when using the VIP account is increased to 92%, compared to 85% for the Standard Account type.
Olymp Trade MT4 Account
However, if you are trading with OlympTrade via the MT4 trading platform, you will have access to 2 accounts for both the demo and live accounts; they are the Standard Account and ECN account.
Using the ECN account, you trade with zero spread and a fixed commission. With a Standard account, a trader has to pay the spread, which starts at 1.1 pips but does not have to pay a commission for opening a trade. You can start with $ 10.
Olymp Trade Deposit Bonus
Whenever you deposit up to $ 30 and above, you are qualified to receive a bonus from Olymp Trade for your deposit. The bonus attached varies depending on your deposit; the larger the deposit, the higher the bonus percentage. The bonus schedule is summarised below:
- $30-$99: You are entitled to a bonus of 10% on your deposit.
- $100-$299: Any deposit within this range gets a 20% bonus.
- $300-$4,999: 30% bonus.
- $5,000 and above: 50%.