OlympusFx

Note: For some unknown reason, we cannot open OlympusFxs official site (http://olympusfx.com/) while writing this introduction, therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Traders should be careful about this issue.

General Information & Regulation

OlympusFx, a trading name of Olympus Financial Group Limited, presents itself as an STP and ECN broker established in 2014 and registered in Saint Vincent and the Grenadines that claims to provide its clients with 100+ tradable financial instruments with leverage up to 1:500 and floating spreads from 0.6 pips on the leading MetaTrader5 trading platform. Here is the home page of this brokers official site:

As for regulation, it has been verified that OlympusFx does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.77/10. Please be aware of the risk.

Market Instruments

OlympusFx advertises that it offers access to 100+ trading products, which include forex and metals such as gold and silver, as well as cryptocurrencies of Bitcoin Ethereum, Ripple, Dash, Litecoin, and SataCoin.

Account Types

OlympusFx claims to offer demo and Standard accounts. However, it says nothing about the minimum initial deposit requirement to open an account.

Leverage

The maximum leverage available from OlympusFx is 1:500 which can be selected when opening up an account. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads

OlympusFx claims that the typical spread on the currency pair EUR/USD - 0.6 pips on standard account type.

Trading Platform Available

The platform available for trading at OlympusFx is the industrys leading MetaTrader5. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Deposit & Withdrawal

The deposit page gives ASEAN Bank Transfer and RMB Bank Transfer as the only two options with OlympusFx, so bank wire transfers are the only method available. The minimum initial deposit requirement is said to be $50. There is no deposit fee charged. Withdrawal requests will be processed within 24 hours. After this, the time it takes will depend on your own banks processing time but is normally completed between 1 to 5 working days after being processed by this broker.

Bonuses

OlympusFx claims to offer a 100% bonus, and you have 30 days to complete the turnover requirement or the bonus will be removed from your account. In any case, you should be very cautious if you receive a bonus. Bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Note that brokers are prohibited from using bonuses and promotions by all leading regulators.

Customer Support

OlympusFx‘s customer support can be reached by email: support@olympusfx.com and info@olympusfx.com. Company address: Suite 305, Griffith Corporate Centre P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines. However, this broker doesn’t disclose other more direct contact information like telephone numbers that most brokers offer.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.