A Beginners Guide to Open an Olymp Trade Account - Times Square Chronicles

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A Beginners Guide to Open an Olymp Trade Account - Times Square Chronicles

A Beginners Guide to Open an Olymp Trade Account - Times Square Chronicles

Posted: 29 Oct 2019 08:08 PM PDT

A Beginners Guide to Open an Olymp Trade Account

A trading account can earn you this much benefit if you know how-to –  that you'll even want to retire early. But as you've probably heard, this is not what you'd call a piece of cake. So I'm going to start by giving you the most common advice that all beginners get, to make time to learn all the processes.

But as technologies have advanced, getting the hang of trading has become easier and faster. There are trading websites that have made trading stress and hassle-free for novice traders. Olymptrade is one such website that is very friendly to novice traders. It provides instant access to invest regardless of any time and place, which is a fresh feature useful to a beginner.

On top of that, you can also start by investing with a small amount. To open an Olymp Trade account follow the steps below,

Opening an account is Easy and Fast with Olymp Trade

Registering yourself on the platform is the first step in opening an account. Go to the Olymp website or app, fill in the registration form, that will require your name, e-mail address, phone number, preferred currency option (euro or dollar) and a secured word that you don't use elsewhere.

Olymp trade platform offers two forms of trading, Olymp options trading and Olymp forex trading. When you're opening an account for the first time you'll be registered to the Olymp options trading, this the one people usually trade on most. Olymp options trade are set on expired time or in time duration. While Olymp forex trading supports trading both long and short while keeping the assets at the current rate. The trade duration is also unlimited. With no spread, you can pay to execute trades.

The second you register; you get your demo account. Another type of account that is offered on Olymp trading is live account. To help you try out your skills at trading and getting you familiar with the process, the demo account offers $10,000. That way you don't lose your investment. But you can switch to the live account anytime you want. 

So it is advised to practice trading in the demo account before you start investing in the real market. Learning with a demo account is great because you are given access to an assistant, support and video materials. Once you are confident about trading skills, you should decide to go and trade live.  

Going Live with Olymp Trade

Olymp trade offers two kinds of live accounts, Regular and VIP Account. Between both, as the name suggests, the VIP accounts offer some exclusive features that aren't available to regular accounts. To upgrade to a VIP account, you have to deposit more than $20,000. The perks of having a VIP account includes, 

  • Up to 90% profit margin with a high return on investment.
  • Investment can be done as much as $5,000.
  • A personal consultant to aid you in trades.
  • Provides daily market reports.

However, to start a small regular account is not a bad choice. You will even deposit as low as $10 and you're all set. The standard account serves feature such as,

  • The maximum yield of 82%
  • The minimum deposit is only a dollar per trade.
  • Maximum deposit on a trade is $2000
  • No withdrawal fees required.

Olymp Trading Process

After depositing the money all that is left is investing. This can be done whenever you want, the process requires no hassle and is quick and seamless. You have to, 

  1. Choose a favorable asset: In this arena, Olymp trading presents a lot of options. As a member you can invest in 36 pairs of currencies, 2 pairs of cryptocurrency and 10 cryptocurrencies against USD, 13 worldwide large companies, 10 stock indices, and 6 commodities. You can choose to trade on gold, platinum, BMW, Facebook, Ripple, etc. 
  2. Select the amount you want to invest: Your investment is going to affect how much you wish to make in Olymp trading. The regular account allows investment up to $2000 in trades. The extent of profits or losses will depend on how much you invest.
  3. Select the time of trade: You can select a time frame for your trade to determine its period, starting from a minute to 3 hours – this is a sort of expiry period for your trades. If you're a beginner it's best to start from short periods. 
  4. Predict the trend for an asset: This is the main part, you'll have to whether the price of the concerned asset will rise or not within your preferred period. Getting good at this skill means more profits and an amateur no more. 
  5. Wait for your set time frame to end: If your forecast turns out to be accurate you will gain more profits and if not then loss inevitably.

Having fun is just as important 

Olymp trading is a fun way to earn if you can strategize. To succeed in this field there is no alternative to being patient, keep yourself updated with useful trading information. Choose a broker suiting your needs and manage the trades like you'd your businesses. Use the demo account to your advantage and don't push yourself too hard. Instead of treating it like a desk job, treat it like a hobby. Celebrate the profits but don't be a sore loser, losing is also important to gather experience.

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