The topic of making money online, no matter how trite it may seem, remains popular and is only gaining more responses from an increasing number of users. There is nothing surprising in this - against the background of the crisis and unemployment in the real labor market, the virtual one is only developing, creating new prospects for those employed in all areas.
Today we are talking about trading, or rather, about playing on such an instrument as binary options. To be more specific, we will talk about the Olymp Trade service. This binary options broker is the only owner of two licenses at once - CROFR and FinaCom, while the minimum bet is only $1, and the minimum deposit is $10, see the website for details.
Fake or true (reviews from many users indicate that they want to know the answer to this question) that you can make big money on this platform? Are the earning tactics mentioned on this site fair? We will find out all this in the course of our article.
General Description
So, in fact, as the reviews on the Olymp Trade project show, we have a typical broker through which you can trade on the foreign exchange market. At leastAt least, the organizers of the project want to create such an impression by showing clients various stock quotes, describing the state of affairs on the market, and making forecasts on the movement of currencies.
However, if we dig a little deeper, we will realize that this is not entirely true. The essence of working with Olymp Trade (deception or truth - reviews will help us find out a little later) is a kind of gambling. After all, it does not depend on the user how long he predicts the fall or growth of quotes; he just needs to call the buttons “down” or “up” and after 30 or 60 seconds, wait for his “bet” to be true or not. He, unlike “Forex” brokers, cannot change time intervals, which means that this cannot be called real trading.
Although, of course, what kind of developers of such a project would call it another financial gamble? Of course, everything is disguised as real currency trading. This makes it possible to lure new customers with the help of various motivating slogans, “success stories” and other things. As we can see, the office is really thriving.
Yield
Successful trading here, according to company representatives, is possible with the help of “analysis and calculation” (in fact, just guessing the further movement of quotes over a certain period of time). In fact, the client's profitability is limited to 80 percent of the amount on which the bet was made. That is, unlike the classical form of trading in the foreign exchange market, here the client can only receive a fixedprofit, which also has some features of this kind of activity. Roughly speaking, it would be naive to expect to “trade” a million here.
Deal format
I would like to dwell in more detail on the format of making transactions within the framework of the Olymp Trade service (deception or truth - reviews will show). When the user wants to conclude a contract, he can do this, as already mentioned, only for a certain period of time (30, 60 seconds and longer). This determines the percentage of profit that will eventually go.
A deal is made by determining one of two directions - “down” or “up”. In fact, all forecasts are limited by these definitions. In practice, everything looks really simple, and this is how the project developers bribe new users: everyone thinks that with the help of a form of a couple of buttons, he can start trading successfully and earn a lot of money. This, of course, is not entirely true - in fact, it is not so easy to predict the movement of a currency in some time frame. And the honesty of Olymp Trade (deception or truth - reviews of some clients indicate the first) is also in doubt. But all right.
Quick registration
Another interesting trick used to lure new “players” is a simple form of account creation. It is placed directly on the main page of the site, consists of six lines and two checkboxes, due to which the client may have a certain desire to try himself as a trader “here and now”,fill in the indicated fields and start trading.
Of course, at later stages you will need to provide more detailed information about yourself in order to comply with security criteria (especially, as you understand, this concerns financial issues and withdrawal of funds). It should also be clarified that at the registration stage, the client can indicate the Olymp Trade promo code issued to him by another participant. This will make it possible to earn on the turnover of the referred customers, receiving a certain percentage.
Low Entry
By the way, regarding depositing funds and trading binary options with this company, in order to lure more participants, the company has set the entry threshold at $10. One can imagine how many users, due to the generous advertising of the project on all possible sites, decided to “try” or “experiment”, making a contribution at the minimum rate and simply losing the deposit. Of course, and this is normal, because the opportunity to start earning “from scratch” and only “in 3 clicks” is described here so “sweetly”. Many of those who are looking for an opportunity to earn income online would like to try it.
Tools
For the convenience of customers, the site provides a set of currency pairs on which you can earn. These are the classic "bundles" that each of us had the opportunity to see on the "Forex" sites: currencies USD/RUB, GBP/USD and others. Depending on the movement of quotes in the indicated and a number of other directions, the user can make a “true” forecast or make a mistake, and that’s all.lose.
In turn, the organizers of the project convince that the presence of such a variety makes real profitable trading for a wide range of people: after all, say, if you are an expert on the rate - JPY / USD, you can find a “field” of work for yourself in any conditions. And, in addition, a number of forecasts from the administration are available to ordinary users, which are published on the VKontakte page. Everyone has the opportunity to work with them and, agreeing or refuting them, follow their own strategy.
However, there are probably paid signals for Olymp Trade on the Internet, compiled by reputable experts that can help more.
Training
Another "trick" of the project is the bet on a range of services that come in addition with the ability to conduct financial transactions based on forecasts. In particular, this training. So that no one can say that Olymp Trade is a scam that collects money (and many real user reviews testify to this as clearly as possible), the company offers participants a set of various courses and information assistants. Focusing on them, perhaps someone manages to earn money here, but project participants who have already lost funds clearly do not believe in such a possibility.
Guarantees
At the same time, Olymp Trade (a binary options broker, the reviews of which we collected) posted information about its guarantees on its website. They are of a different nature and naturally capable ofprotect the user from various problems. For example, it is indicated here that the funds of partners are kept in the European Bank (obviously, hinting at the instability of the domestic banking system); or that the company's activities are regulated under a license from the Central Bank of the Russian Federation (which shows the company's serious intentions); or the security of the Internet connection with the client with a special SSL certificate (means the security of ongoing transactions).
True stories
Theoretical description of the service, the characteristics of its work and some assumptions of your own - this is important, but it is best to illustrate them with examples of feedback and information from people who have already had experience with the project. Otherwise, you can guess for a long time what the Olymp Trade service is - a hoax or the truth that you can earn money here, and so on.
We focus on reviews. Many of them describe a standard situation: a person discovered binary options and, of course, decided to try it. To do this, he first makes sure: Is Olymp Trade a scam or not? Reads recommendations (which are often written by the authors of the project), learns that it is real to make money here. Some warranties also talk about this. Opens a trial demo account. Of course, the developers of the service are aware of this strategy of undertakings and are ready for it.
As the reviews dedicated to Olymp Trade show, the majority of participants win on a trial account. They attribute this to the project's algorithms, which are aimed at swindling funds from the player. Seeingprofitable trading on a “demo”, a person enters real money, hoping to repeat. And, of course, he loses, claiming that Olymp Trade is a scam. Or the truth - if his forecast nevertheless “played” and he made a withdrawal of funds on time. Of course, few do.
Some reviews indicate that it is indeed possible to build a successful interaction with the platform, as a result of which the user will benefit significantly. Perhaps someone even manages to multiply their bank several times - I do not exclude such an option. However, as the recommendations of experienced players show, the majority still lose their deposit, once and for all saying goodbye to the career of an “trader” in options.
Conclusions
It is impossible to say unequivocally that the project belongs to the category of “truth” or “fraud” due to the inability to obtain accurate statistics of wins or losses, and also to check whether the quotes indicated in the service coincide with the real situation on the market. According to many reviews, the trick with profitable trading on a demo account and unprofitable trading on a real one is far from all the tools in the company's arsenal. There is also a theory that some people manage to trade "in plus" at the very beginning of their activities. There are some delays when requesting a withdrawal; the user plays again and fails.
The nature of such strange situations (which are repeated in different reviews) can only be explained by some special algorithms operating on the site. Therefore, honesty arises in the service.
Ah, in general, to say thatOlymp Trade - outright scammers, you can't. Trading here can be profitable, but organizing it is not as easy as advertising and fake comments show.
