The rise of cryptocurrency has given birth to a good number of trading platforms. And if you’re looking for a reliable one, ”Olymp Trade” is an excellent site that can be useful to you. So, why choose Olymp Trade?
It allows its users to make money online while being accessible from any device- both iOS and Android, which gives you a significant advantage.
Again, unlike most other platforms, at Olymp Trade, the requirement for capital is minimal. So, it’s way easier to trade and, therefore, attracts many traders.
Another key feature of Olymp Trade is that it allows you to consult an experienced trader. That means at Olymp Trade, you can always ask an experienced trader for guidelines, which will greatly help you to make better decisions minimizing the chances of failure.
A huge portion of people coming to cryptocurrency are beginners with no clues on how to use the Olymp Trade platform. And if you’re one of them, then no worries. We’re here to the rescue.
Following is a detailed walkthrough on how to become an expert trader using olymp trade application.
Deposit As Preference
Firstly, you will need to deposit some money depending on the type of your account. That being said, there are two types of accounts. The first one is the standard account where you can deposit as low as $10 with a minimum trade of $1.With this type of account, you will get a maximum profit of up to 80%, and the good thing is that it won’t charge you any type of fee on withdrawal.
The second one is the VIP account, which requires a minimum deposit of $20,000 with a minimum trade amount of $5,000. This account gives a maximum profit of up to 90%. And it just doesn’t stop there. Olymp Trade will also give you an adviser to guide you. The key difference between a standard account and a VIP account is that with a VIP account, the chance of loss is tensed to zero with professional advice, higher return of assets, and daily market reviews.
Utilize Trading options
Another significant feature of Olymp Trade is that it enables you to try trading options.
These trading options are transparent, assuring no chance of you getting cheated. And they are always profitable. That being said, there are two trading options available – classic and time options.
Classic options let you select the amount and trade opening period after opening a trade.
These are also known as up-down trades.
On the other hand, time options give you the liberty of choosing an expiration time for specific trades to be executed. Selecting the right time will get you a yield of up to 92% of your investment. It is updated regularly, making it the most convenient way of trading.
You can also execute multiple trades using time options. All of them will close simultaneously when the timer expires.
One Step at a Time
First, you’ll have to choose the asset from your account. You can trade the currency sets as well as trade commodities, stocks of reputable companies, and exchange indexes. However, the indexes can be from Asia, the United States, and Europe only.
Second, you’ll need to select the amount of trade. You can easily choose the amount as you prefer depending on the type of your account. The profit can even rise to 100%.
Third, choose the expiration time. As time goes by, the trading options will close according to the time you selected. This can vary between one to five minutes.
Fourth, choose the appropriate strike price. After the expiration time is over, the strike price is compared with the asset price. The classic option is also applicable. Profit is earned if the asset chart is above the strike price through up trade. For the down trade, the asset chart needs to be less than the strike price. Note that all this is only applicable immediately after the trade has expired.
Fifth, you only need to make up your mind whether the asset price remains down or up.
Finally, you can close the trade early before it expires with the aid of a sell function, assuring a full refund of your amount. However, the refund can vary depending on the asset price.
Strategies to Win
The best strategy to win and earn big money is to wait after you have opened an account. Hasting is more likely to increase mistakes. Study the market and analyze the various outcomes. Keep track of the trends and how people are succeeding. This will increase not only your knowledge of the market but also the chances of getting profitable.
Another exciting feature of Olymp Trade is the demo account for beginners. It offers free demo credits worth $10,000 and helps you know about the trading principles within one week. It’s better to try the account first before trading with your own money and know the basics.
Olymp trade is an excellent site to experience the best of trading. It’s easier to use with almost no risks and guaranteed profits. And you can easily withdraw through various methods like E-payments or the bank without any kind of fee on withdrawal. As a beginner, you should patiently learn and follow the basics of trading. You can always reach out for expert help whenever required. Utilize the trading resources offered by the platform correctly, and Olymp Trade will surely help you win.