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OlympusFx foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website http://olympusfx.com/, about the company's legal and temporary regulatory information, the company's address .

OlympusFx Forex Broker

Basic Information

Registered Region

Saint Vincent and the Grenadines

Operating Period

Company Name

Olympus Finanacial Group

Abbreviation

OlympusFx

Company employee

Company Website

http://olympusfx.com/

Keywords

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

Company profile

Note: OlympusFx's official website: https://olympusfx.com/ is currently inaccessible normally.OlympusFx Review SummaryFounded2014Registered Country/RegionSaint Vincent and the GrenadinesRegulationNo regulationMarket InstrumentsForex, metals, cryptosDemo Account✅EUR/USD SpreadFrom 0.6 pipsLeverageUp to 1:500Trading PlatformMT5Min Deposit$50Customer SupportEmail: support@olympusfx.com, info@olympusfx.comAddress: Suite 305, Griffith Corporate Centre P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the GrenadinesOlympusFx Information OlympusFx's businesss was started from 2014 in registered in Saint Vincent and the Grenadines, and the broker used to offer trading services in more than 100 assets like forex, metals and cryptos to global clients. Spread for the main EUR/USD is from 0.6 pips. The broker uses the popular MT5 platform and minimum deposit is affordable at $50.Regulatory Status Regulation is a crucial aspect of evaluating the legitimacy and reliability of a brokerage firm, and in the case of OlympusFx, the broker operates without any valid regulatory oversight. The absence of a regulatory framework raises huge concerns regarding the broker's adherence to industry standards, financial transparency, and the protection of client interests.Downsides of OlympusFx Unavailable website: OlympusFx's website cannot be opened currently, which indicates possibility of cease of operation. Regulatory concerns: The broker operates without valid regulation by any financial institutions, meanig that it might not comply to industry standards. This heightens trading risks with them. WikiFX exposure: There are 17 pieces of exposure from WikiFX about fraud, scam and withdrawal issues, indicating unsatisfactory customer experience with this broker that investors can take reference to. Limited customer support channels: OlympusFx can only be approached via email and office address, with more immediate methods such as telephone, live chat absent. This will lead to a high chance of delaying customer response and solutions to problems.What Can I Trade on OlympusFx? OlympusFx advertises that it offers more than 100 tradable assets for clients to choose from. These include:Forex (Foreign Exchange): The global marketplace for buying and selling currencies, where traders profit from changes in exchange rates between currency pairs.Commodities: Commodities are basic goods or raw materials that are interchangeable with other goods of the same type, often used in trade and production, such as precious metals like gold, silver, etc.Cryptos (Cryptocurrencies): Digital or virtual currencies that use cryptography for security and operate on decentralized networks, often based on blockchain technology. OlympusFx supports trading in Bitcoin Ethereum, Ripple, Dash, Litecoin, and SataCoin.Tradable InstrumentsSupportedForex✔Commodities✔Cryptocurrencies✔Indices❌Stocks❌Bonds❌Options❌ETFs❌Account Type OlympusFx offers a demo account for traders to practice themselves before tapping into real trading. While for live accounts, there's only one Standard account with a minimum deposit of $50 available.Leverage OlympusFx offers leverage up to 1:500, which allows investors to control a position of 500 times of their initial deposits. However, you should be very prudent to use such tool since leverage not only amplify profits, but losses will be augmented at same level as well.Spread and Commission Spread for the benchmark currency pair for EUR/USD is from 0.6 pips, while the broker does not disclose any information about commissions, which need your direct consulation with the company to ensure informed decision making.Trading Platform Suprisingly, OlympusFx offers a full functional MetaTrader5 platform, which is widely used around the globe. You can access the charting tools, analysis resources and automated trade execution through the platform. The platform is widely praised by users for its stability and trustworthiness.Trading PlatformSupportedAvailable DevicesSuitable forMT5✔/Experienced tradersMT4❌/BeginnersDeposit and Withdrawal The deposit page of OlympusFx gives two options for payments: ASEAN Bank Transfer and RMB Bank Transfer. Deposits are free and processed immediately, while withdrawal requests will be processed within 24 hours. After this, the time it takes will depend on your own banks processing time but is normally completed between 1 to 5 working days after being processed by this broker.Bonus OlympusFx claims to offer bonuses of up to 100% basing on your deposit amounts. To acheive 100% bonus, you need to deposit at least $10000, and you have 30 days to complete the turnover requirement or the bonus will be removed from your account. But you should process bonuses programs very prudently since most of the time brokers impose difficult tasks and hidden conditions that are nearly impossible for you to meet.Deposit AmountBonus<$1,50020%<$3,00040%<$5,00060%<$10,00080%<$15,000100%

OlympusFx broker review

Is OlympusFx safe or scam

Rating Index

OlympusFX Broker - Complete Information Guide

1. Overview of the Broker

　　OlympusFX, officially known as Olympus Financial Group Limited, was established in 2014. The company is headquartered in Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines. OlympusFX operates as a private entity and primarily serves retail clients looking to trade in the forex and cryptocurrency markets.

　　The broker has positioned itself as a technology-driven platform, claiming to focus on client needs and uphold values such as integrity and excellence. Over the years, OlympusFX has aimed to expand its offerings and improve its trading conditions, although specific milestones in its development are not well-documented in the available sources.

　　As an offshore broker, OlympusFX operates under a business model that includes retail forex trading and access to various financial instruments, providing clients with the ability to engage in trading across multiple asset classes. However, it is essential to note that the lack of regulation raises concerns regarding the safety and security of client funds.

2. Regulatory and Compliance Information

　　OlympusFX is registered in Saint Vincent and the Grenadines, but it is important to highlight that it operates without any valid regulatory oversight. There are no licenses issued by major regulatory bodies such as the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), or the Australian Securities and Investments Commission (ASIC). This lack of regulation means that clients have no legal recourse in the event of disputes or issues with fund withdrawals.

　　The broker does not provide information regarding its Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures, which further complicates the trustworthiness of the platform. Given the absence of regulatory oversight, there are no guarantees regarding the segregation of client funds or participation in investor compensation schemes.

　　In summary, the regulatory status of OlympusFX is a significant concern, and potential clients should exercise extreme caution when considering this broker.

3. Trading Products and Services

　　OlympusFX claims to offer access to over 100 trading products, which include various forex currency pairs, precious metals such as gold and silver, and a selection of cryptocurrencies including Bitcoin, Ethereum, Ripple, Dash, and Litecoin. However, specific details about the range of forex pairs available are not explicitly stated.

　　The broker's trading services primarily cater to retail clients, providing them with the necessary tools to engage in the forex and cryptocurrency markets. Nevertheless, the lack of transparency regarding the frequency of product updates and the introduction of new trading instruments is notable.

　　While OlympusFX does not explicitly mention services for institutional clients or white-label solutions, the availability of diverse trading products suggests that it aims to accommodate a broad spectrum of traders.

4. Trading Platform and Technology

　　OlympusFX supports the popular MetaTrader 5 (MT5) trading platform, which is known for its advanced trading capabilities, including customizable charts, technical indicators, and automated trading features. The platform is accessible via desktop, mobile (iOS and Android), and web-based interfaces, providing flexibility for traders on the go.

　　The broker claims to utilize an ECN (Electronic Communication Network) execution model, which is designed to offer faster trade execution and better pricing. However, details regarding the server locations and technical infrastructure are not provided, which could impact the overall trading experience.

　　API access and support for automated trading are also essential features for many traders, but specific information about these capabilities is lacking in the available resources.

5. Account Types and Trading Conditions

　　OlympusFX offers a standard account type, but specific details about the minimum deposit requirements, spread conditions, and commission structures are not well-documented. The broker does mention that the typical spread for major currency pairs starts at 0.6 pips, although this may vary based on market conditions.

　　The maximum leverage available to traders is up to 1:500, which can be appealing to those looking to amplify their trading potential. However, high leverage also increases the risk of significant losses. The broker does not provide clear information regarding the minimum trade sizes or overnight fees associated with different trading positions.

　　Additionally, the absence of information about advanced account types, such as VIP or Islamic accounts, limits the options available to traders seeking tailored solutions.

6. Fund Management

　　OlympusFX supports only bank wire transfers as the method for deposits and withdrawals. The minimum deposit requirement is reportedly $50, which is relatively low compared to many other brokers. There are no fees charged for deposits, but clients are responsible for any bank transfer fees incurred.

　　Withdrawal requests are processed within 24 hours, but the actual time for funds to reach the client's account depends on the processing times of the banks involved, typically taking between 1 to 5 working days. While the broker does not specify withdrawal fees, clients should verify with their banks regarding any potential charges.

7. Customer Support and Educational Resources

　　OlympusFX provides customer support primarily through email, with no direct phone support listed. The available contact emails include support@olympusfx.com and info@olympusfx.com. However, the lack of direct contact methods, such as phone numbers or live chat, may hinder effective communication with clients.

　　The broker does not appear to offer extensive educational resources or market analysis tools, which are increasingly vital for traders looking to enhance their skills and knowledge. The absence of webinars, tutorials, and comprehensive market research further detracts from the overall service offering.

8. Regional Coverage and Restrictions

　　OlympusFX primarily serves clients from regions where regulatory oversight is less stringent, such as Saint Vincent and the Grenadines. However, specific details regarding the geographical reach of its services and any restrictions on clients from certain countries are not provided.

　　It is advisable for potential clients to verify their eligibility to trade with OlympusFX based on their local regulations and to consider the risks associated with trading through an unregulated broker.

　　In conclusion, while OlympusFX presents itself as a broker offering various trading products and services, the lack of regulation, transparency, and comprehensive customer support raises significant concerns. Potential clients are strongly encouraged to conduct thorough research and consider alternative brokers that offer better regulatory protections and customer service.

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