Olymp Trade is Scam # Be Alert

[Way2sumitbhutani]

Dear All,

I am Sumit from India, account no. # 54910800 in Olympic trade, when You make new account trades execution will execute good and easily and when you loose money then broker make you in more lose by delaying your trade execution. I crosscheck by making two three new accounts with same internet speed, same location and same device and make videos, in new accounts no delay in execution of Call & Put. I provide to broker all proofs and then to financial commission Regulator too.. As expected they think there is no ground in my complaint and they says there can be difference in demo account of my video and real account. And asking me to provide more real accounts videos of two three accounts.. For you screenshots attached. Be careful, I am gonna take this case to my bank and local authorities.

 

[4evermaat]

Financial commission is pretty worthless IMO. It appears to have been created by some of the scammers themselves (similar to fake review sites).

You do realize that Binary Options business model is "Heads, [broker] wins; tails, you lose", correct??? The real question is why do you keep depositing with companies that have a known scam business model?

You would be better off resisting your gambling/greed impulse and use agency-model brokerage.

Also, if you feel inclined to deposit money somewhere, you can make voluntary donation to people who help victims worldwide fight scams!!!!! My donation details are in the signature.

Do you think what I have said above is logical?

 

[FxMaster]

Dear All,

I am Sumit from India, account no. # 54910800 in Olympic trade, when You make new account trades execution will execute good and easily and when you loose money then broker make you in more lose by delaying your trade execution. I crosscheck by making two three new accounts with same internet speed, same location and same device and make videos, in new accounts no delay in execution of Call & Put. I provide to broker all proofs and then to financial commission Regulator too.. As expected they think there is no ground in my complaint and they says there can be difference in demo account of my video and real account. And asking me to provide more real accounts videos of two three accounts.. For you screenshots attached. Be careful, I am gonna take this case to my bank and local authorities.

First of all, invite the company by using the invite company option to your thread. And if you are unable to locate the option then this thread "Tutorial: How to Invite a company to your thread." will help you to find out.

Note: Invitation button will be enabled when your first post reaches 4 days old.
Note 2: Make sure to share your account number (Only account number). Many time this help companies to find out you are genuine or not.
Note 3:Make sure to follow the suggestions correctly, when you do it correctly you will get below message in your thread automatically.

 

[Olymp Trade team]

Dear All,

I am Sumit from India, account no. # 54910800 in Olympic trade, when You make new account trades execution will execute good and easily and when you loose money then broker make you in more lose by delaying your trade execution. I crosscheck by making two three new accounts with same internet speed, same location and same device and make videos, in new accounts no delay in execution of Call & Put. I provide to broker all proofs and then to financial commission Regulator too.. As expected they think there is no ground in my complaint and they says there can be difference in demo account of my video and real account. And asking me to provide more real accounts videos of two three accounts.. For you screenshots attached. Be careful, I am gonna take this case to my bank and local authorities.

Hello, dear Sumit!

Our team has studied your complaint. We applied to our reclamation department for the details of investigation, and we would like to comment it. "From Service Agreement, Regulation on Trading Transactions section, clause 2.3: The time to process a request and order depends on the quality of communication between the Client's trading terminal and the Company's server and on the market for the underlying asset. Under normal market conditions, the processing time for a Client's request or order is usually 0–4 seconds. In market conditions other than normal, the Company may increase the processing time for Client requests and orders".

That means that delay is normal and depends on many of the factors such as listed in clause 2.3. of Regulation on Trading Transactions. It can be Internet speed, server load and so on.

If you have any questions about the company's policy and mechanisms, please feel free to ask! We are open for communication and ready to help.

Best regards, Olymp Trade team.

 

[Way2sumitbhutani]

I again here mention you and ask you about reading my complaint again please, when I am making new accounts on same device same locations, no issue there in execution, so where is your reply given stands, the communications between server and client trading account and internet speed etc, I have recordings of your customers care ( manager)Mr Neil , he told me that it could due to server issue, when I asked him to change that he said I am raising your request and it will be done in 2 hours , means problem will be sort out, and on same location when I am making new account and sending you videos of demo account then reason given by your side, send us with real account, I am mad I will deposit more money into it. If your demo account and real account trade execution is totally different then what is fun in giving demo account for practice.... What kind if practice it will be if result can be different with same device by your words....

 

[Way2sumitbhutani]

Well don't worry, I will raise this issue on other platforms too.. No worries.. Will make every effort to aware people here in India on every thread... Trust pilot, digital Trading Scams , binary Scams,

 

[Mazshura]

LOL, I bet nobody here looked at the video and screenshots you’ve provided.
What you are trying to do in that video reminds me a story about a lady, who tried drying her cat in the microwave, the cat died and she sued the company for the absence of “No cat-drying” sign on the device. This is actually why in the US now people who get caught trying to sue companies for no reason get fines for the first time and go to jail if caught red-handed again.
1. You are making like a million transactions per minute there. What you do there, is intentionally trying to cause the broker’s software failure. NOBODY will EVER trade like that on a real account, this is so obvious. It looks as if you were using a nail gun to hammer those numerous orders in the platform
2. You use demo account, so this can not be a proof that you’ve lost any money because of any real-time delays.
3. I don’t see much delays in this demo-trading video. It's difficult to understand actually what’s going on there. Too many executions to make any sense.
4. The logic of your claim makes no sense either, because there is no point for broker (even if they were a scam) to intentionally delay the executions on older demo-accounts. Its demo, what’s the point?

 

[Way2sumitbhutani]

LOL, I bet nobody here looked at the video and screenshots you’ve provided.
What you are trying to do in that video reminds me a story about a lady, who tried drying her cat in the microwave, the cat died and she sued the company for the absence of “No cat-drying” sign on the device. This is actually why in the US now people who get caught trying to sue companies for no reason get fines for the first time and go to jail if caught red-handed again.
1. You are making like a million transactions per minute there. What you do there, is intentionally trying to cause the broker’s software failure. NOBODY will EVER trade like that on a real account, this is so obvious. It looks as if you were using a nail gun to hammer those numerous orders in the platform
2. You use demo account, so this can not be a proof that you’ve lost any money because of any real-time delays.
3. I don’t see much delays in this demo-trading video. It's difficult to understand actually what’s going on there. Too many executions to make any sense.
4. The logic of your claim makes no sense either, because there is no point for broker (even if they were a scam) to intentionally delay the executions on older demo-accounts. Its demo, what’s the point?

Mazhura that's the point, there is no delay in new account even I am doing too many, but when I do in my real, it's get delayed..

 

[Olieng38]

Hmmm, very interesting case! Sorry you’ve had this negative experience. It’s good that you’ve brought the topic up. It’s important to find the truth and hope this thread will be helpful in this regard.
Can we all please get some more details on what’s happened?
What is the normal Internet speed that you have on your device? Is your device powerful enough to manage the app or several apps opened simultaneously? Can you please share it’s characteristics?
And, by the way, did you really trade like it was shown in your demo video on your Olymp’s live account, making numerous trades simultaneously? Thank you in advance for your replies, this is all very interesting in fact!

 

[Way2sumitbhutani]

Hmmm, very interesting case! Sorry you’ve had this negative experience. It’s good that you’ve brought the topic up. It’s important to find the truth and hope this thread will be helpful in this regard.
Can we all please get some more details on what’s happened?
What is the normal Internet speed that you have on your device? Is your device powerful enough to manage the app or several apps opened simultaneously? Can you please share it’s characteristics?
And, by the way, did you really trade like it was shown in your demo video on your Olymp’s live account, making numerous trades simultaneously? Thank you in advance for your replies, this is all very interesting in fact!

No it's not like that, in real account why I will do that, in real account more than 4 sec it takes to execute the trade, not in real even in demo account with same ID, but when I make a new account with different email I'd, it trades smoothly like video..