OlympTrade.com

Purekiller

Recruit
Messages
58
For Olymp Trade wise, they are more active in manipulating closing price when you trade binary option with them. I have encountered this issue multiple times (at least 5) and taken some screenshot of it. When you are winning in binary option by about 0.2 pips (+0.2), you would suddenly become lose at the last 1 second by 0.1 pip (-0.1). The next second, the price would go back to normal, so its like a 0.3 pips price manipulation. I have done comparison on the price between Olymp Trade and IG. At the time of entry, both providers show the same price. Only at the sudden last second of closing, price would differ by up to 0.3 pips. Beware of this guys!

Not sure about their forex as I didn't trade with them on forex.
Thank you for the warning, I'll pay more attention now to the charts. On the other hand I myself have certain doubts here. Even though my trading experience is not that huge at the moment, I've done over 100 trades on my real trading account with Olymp so far. I use 1 minute timeframe and 1 min options expiration time. Only once I ran into a situation when the option expired exactly at the price of an opening. In this case Olymp refunds the cost of option and you neither gain nor lose anything. Most of the times price goes far enough to be quite sure whether it's a win or loss. Might depend on how strong are your entry points though… Anyway, how often can you run into a situation when the price will be THAT MUCH close to your entry point?
 

SoHard4Me

Recruit
Messages
17
Thank you for the warning, I'll pay more attention now to the charts. On the other hand I myself have certain doubts here. Even though my trading experience is not that huge at the moment, I've done over 100 trades on my real trading account with Olymp so far. I use 1 minute timeframe and 1 min options expiration time. Only once I ran into a situation when the option expired exactly at the price of an opening. In this case Olymp refunds the cost of option and you neither gain nor lose anything. Most of the times price goes far enough to be quite sure whether it's a win or loss. Might depend on how strong are your entry points though… Anyway, how often can you run into a situation when the price will be THAT MUCH close to your entry point?
This is a very serious claim. There's gonna be a scandal if it is true. However, I'd love to see these screenshots first, before making any conclusions. My personal experience tells the opposite so please forgive me my doubts.
I'm not actively pursuing this matter as I understand every broker would have its own way to make sure its earning more money. As long as broker are paying the trader when they want to withdraw, slight manipulation to their advantage is what trader itself need to take note of and try to minimize the risk.

For Olymp Trade, trading with longer expiry time would help to mitigate above risk.

I would post few screenshots later to prove my claim.
 

Purekiller

Recruit
Messages
58
I'm not actively pursuing this matter as I understand every broker would have its own way to make sure its earning more money. As long as broker are paying the trader when they want to withdraw, slight manipulation to their advantage is what trader itself need to take note of and try to minimize the risk.

For Olymp Trade, trading with longer expiry time would help to mitigate above risk.

I would post few screenshots later to prove my claim.
I think that if broker is not a total dumb*ss (and I think staying on the market for over 6 years is impossible for broker of this type), they will undertand that extra dollar is not worth ruining the whole reputation of the company. I can imagine how much money has been invested in marketing compaigns, in software development, etc. Putting all these efforts at risk for gaining extra 0.2 pips? I wouldn't do that if I was a brokerage. Maximizing profits in this business in totally possible through expanding the network of traders who pay commissions. This is the easiest way if not the only decent one.
 

Mazshura

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Messages
44
Hey everyone. Merry X-mas! Hope someone here can give me a piece of advice. I've verified my Olymp account about a month ago. At the moment I plan to go to Thailand in the end of Jan for long vacations where I will continue trading. Do you think I might have any troubles because of changing my location? Will they withdraw the money?
 

Purekiller

Recruit
Messages
58
I've traded from different locations and has never run into any troubles.the only thing, you will get an email notification about a login from the new location. If you plan to use the same card or e-wallet for withdrawals, I don't think Olymp will object. In any case if you have any doubts you can always verify with support. Or just let them know.
 

Mazshura

Recruit
Messages
44
Just wanted to let you guys know if you have the similar situation with trading at Olymp from abroad. I've found out there will be no troubles if I keep withdrawing the funds to the same Skrill account. Bank tradnsfer to a different country will not work, but considering I don't plan to open an account there its ok. Skrill or same credit card uysed for funding Olymp's account is OK.
 

Purekiller

Recruit
Messages
58
Hey everyone! Recently I’ve had a conversation with another trader. He also trades options, but with another broker. He said he uses 1 hour expiration time for trading and advised me to do so as well. In case you forgot, I prefer short timeframes and use 1 min expiration at Olymp. This guy says that commissions that I pay for trading 1 min options will inevitably nivelate all my profits and it is much better to use longer-term trades in order to reach a better proportion of reward:commission. I didn’t notice anything like that myself, but just in case… Do you think he knows what he’s saying? Where is the trouble?
 

Enayess

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Messages
79
This would have been true with the broker who uses commission per trade for options trading. Olymp Trade does not have such a commission for options trading. It's used here for forex only. So don’t worry, commissions won’t take away all your profits. Simply take care to have some ;)
 

7Bulletin

Corporal
Messages
103
Correct. Olymp does not have additions trading fees for options, so this won’t really matter on this point of view. The only thing I have to add here is that this is little easier to trade options using longer expiration time. This is what can really influence your profits. I understand that when trading we get very impatient to see the result. This is actually why most people choose 1 min expiration (looks like it). However, this is rather hard to predict what’s going to happen next minute. Price moves a bit chaotically, every minute some minor unpredictable fluctuations may happen. When you see a trading signal price may need to take little time before it starts moving in accordance with this signal. So this is a bit easier to predict where the price will be in 5 minutes than where it will be in just 1 min. And if you use signals and setups from 5 min timeframes it might be a good idea to use 1H expiration because this is about how long it will take the price to start moving in the necessary direction.
 

Purekiller

Recruit
Messages
58
Thanks everyone for your answers. This is a big relief that its not important which expiration to use with Olymp in regard of commissions. On the other hand I’ve just got some information to think about. Looks like it makes a lot of sense. It's just very difficult to wait for the whole hour to get the results of a trade. Guess you know what I mean.
 
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