Updated April 20th, 2020 at 22:35 IST
What is the Olymp Trade app and is it legal and safe in India?
What is the Olymp Trade app? has been answered below. Read to know about the trading platform and how one can trade on the online platform.
Olymp Trade is one of the most known online trading platform which allows people to invest less and earn big. The platform has been serving customers since 2014 and has proven to be reliable for people interested in online trading. Olymp trade provides Fixed Time Traders and FX which separates it from other trading assets as they offer an extensive list of assets. But is Plymp Trade legal and safe in India?
Olymp Trade legality details
According to various sources, Olymp Trade is not technically illegal in India but it is in no way monitored or controlled by SEBI or RBI. This means if a trader faces any issues with regards to the app's transactions or collections then Indian authorities will not be able to help. As Olymp Trade is not regularized by Indian authorities, various Indian banks are not dealing with the platform directly, only some international Devit/Credit are accepted on this platform.
features and reliability of Olymp Trade
Olymp Trade is an A-recognized member of the International Financial Commission which enables the platform to cover unfair trade practices up to $20,000. The minimum amount deposit required to start trading on the platform is $10 which makes it easier for small-time traders to try their luck. Olymp Trade app also provides easy access to learning material which enables new traders to get acquainted with the system easily.
besides this, the Olymp Trade website provides users with a free demo account and allows them to practice their strategies which can be implemented whilst doing real-time trading. Various methods of investing can be used on Olymp Trading which keeps new traders from making uninformed decisions. Traders can later enable their real accounts and start trading practices with their own money.
Published April 20th, 2020 at 22:35 IST