A practice that can earn you handsome profits and make you retire early. But you’ve probably heard that it’s not easy. That you must take time to learn, which practically sums up all the advice trading beginners get.
And in as much as its sound advice, it has been overtaken by events. Because now there is Olymp-a binary trading platform that makes trading hustle/ stress-free. Olymp trade is the ideal place for a newbie trader to start. It provides instant access to investing.
Guess what? You can even start trading shortly. Check out the pointers below on how to an open Olymp trade account.
A Matter of Seconds
To begin trading at Olymp, you’ll first need to register yourself on the platform. Access an Olymp site (or app) and key in your name, e-mail address, phone number, preferred password as well as currency (dollar or euro). And that’s it.
Now there are two forms of trading in Olymp: Olymp options trading and Olymp forex trading.
Most people trade using an Olymp Trade Option interface, which the one you will be registering for once you visit the platform. Its trades are set on either time duration or expired time. On the other hand, an Olymp Trade Forex account opens Short (prices going down) or Long (prices going up) positions, with assets at current rates.
Also, the trade duration is unlimited, there’s no spread, and you pay to execute trades.
You automatically land a demo account the moment you register.
The demo is one of the two types of accounts under the Olymp Trade Options interface. The other is a live account. To help you familiarise yourself with binary trading, Olymp offers beginners a virtual (demo) platform with $10000. Still, you can switch to a live account at any time.
But it’s advisable to practice with the demo before you invest your money in the real markets. It’s a great learning tool because you have access to an assistant, video tutorials, and support. Once you understand the ropes of Olymp trading using the training platform, it’s time to go live.
Trading Live in Olymp
There are two kinds of live accounts: regular and VIP account. The VIP comes with more perks than the standard. Even so, you require to deposit of $20,000 or more to activate the VIP mode. And it comes with benefits such as:
A high return on investments- Up to 90% profits margins.
You can invest as much as $5000
A personal consultant
Access to daily market reports
On the other hand, a standard account is the most inexpensive way to start trading live. You only need to deposit $10 and yay. You have a live interface that comes with:
82% maximum yield
1$ Minimum deposit on a trade
A maximum trade amount of $2000
No withdrawal fees
So how do you deposit money in Olymp?
You have several options that include Visa, @payments, NETELLER, Skrill, Bitcoin, and many more.
The Olymp Trading Process
With your money deposited, you can invest whenever you like. The trading process is quick plus seamless. It involves:
1. Choosing an Asset
Olymp trade offers an array of options. Members can invest in a total of 36 currency pairs, two cryptocurrency pairs, ten cryptocurrencies against USD, ten stock indices, 13 large company (worldwide) shares, and six commodities. You can select to open a trade on gold to copper, Facebook, BMW, Ethereum, Ripple, etc.
2. Selecting Your Investment Amount
How much you make trading in Olymp is highly dependent on your investment. For the standard account, the maximum amount you can invest is $2000. The more money you place in a trade, the more profits (or losses) you’ll make.
3. Selecting the Trade Period
You can choose a time frame ranging from one minute to three hours. The timer determines when you close your trade. It’s best to start with shorter trades before working your way up.
4. Predicting the Asset Trend
It’s the move that executes your investment. You have to decide whether the asset price will drop or rise on the real-time chart. For example, if your asset is gold and the trade time is one minute, you execute the investment by predicting whether the price of gold will be on a rise or a fall when the minute expires.
5. Wait for Trade to Expire
Accurate forecasts rake in profits while wrong predictions lead to losses.
Quick Pointers to Always Making Profits with Olymp
Trading with Olymp is quite straightforward. Still, you require a proper trading strategy to earn profits long term. The tips below will guide you well.
• Be patient– As much as you now know how to open an Olymp trade account, don’t rush into opening one without first figuring out if it’s something you’ll like. Just like everything else, making money trading in Olymp is a process. If you don’t have the right mindset, you’re unlikely to succeed.
• Learn About the Industry– Before you join any platform, it is imperative to teach yourself about the trading field. Learn everything from the jargons to the regulations. That’s how you stay safe while trading.
• Choose a Great Broker– Depending on your interface, you will need to select a broker once you go live. So go for the best. The easiest way to find an exception broker is by looking at various trading recommendations and reviews.
• Don’t bypass the Demo– With trading, you cannot overemphasise the need for practice. The more you train, the more effective your trading becomes.
• Stay Informed– Use educational instruments to grow your trade. Staying abreast with everything about trading is vital. You’ll have an edge when investing.
• Manage Your Trade like a Business– To avoid wasting time and money, make careful decisions. Plan how you’ll invest and put your money in profit-making assets only.
• Stay Comfortable- Don’t push yourself too hard. Don’t allow the need to make money can cloud your judgement. Take it one step at a time.
Always Enjoy Yourself
Binary trading at Olymp is a fun way to make a living. However, things can be quite different if you don’t strategise. Instead of turning Olymp trading into another tedious job full of Mickey Mouse efforts, make it your exciting hobby by planning all your trades carefully.