Trading is risk-inherent but is a skill that can change your life. A number of steps go into becoming a successful trader. The most skilled focus on two types of analysis to ensure they make the best possible trades. Analysis is what separates a bet from an investment. Making the right investments can bring you to the next level of life and beyond.
The Olymp Trade platform has been operating since 2014. Since its founding, this platform has strived to be a user-friendly experience for both new and veteran traders. Offering forex and options trading through its platform, it is a one-stop shop.
Forex trading is a great way to create a second source of personal revenue. In today’s economic climate, having one steady source of income is good, but two is better. Trading has been many people ‘s consistent secondary income for years. Here are five perks of trading with Olymp Trade.
How It Works
The Olymp Trade platform offers its clients two account types: demo and live, with two types of trading; forex and Fixed Time trades. Both modes offer extensive functionality for investment freedom.
Trading Forex involves buying or selling currencies to make a profit when the price increases or declines. For example, a trader can trade the EUR/USD pair at the rate of 1.14000 meaning 1 euro is equal to 1.14 US dollars, and then sell the euro back at the rate of 1.15000.
Education and Assistance
With an extensive education suite, Olymp Trade gives people the tools they need to become successful traders. Trading strategies, indicators, and analytical tools are essential to a forex and or options trader. Understanding how to use them seems more complicated than it is.
With Olymp Trade’s free educational materials and built-in automated assistant, all are created with new traders in mind. All concepts, strategies, types of options, and tools are explained in simple language.
The automated assistant helps answer traders’ questions as they arise both on the platform and in the education section. These materials and assistants are available to ensure even the newest traders can learn everything necessary to be a successful trader and generate a secondary income.
In addition to the webinars and the assistants’ in-depth explanations of strategies, indicators, and tools, Olymp Trade provides a library of webinars with a range of topics and demonstrations.
How to use indicators, trading tactics, and money management strategies are among the most popular in the ever-expanding series. Olymp Trade’s cache of webinars is rivaled by its YouTube channel with 600+ videos in 8 languages.
This is complemented by 24/7 customer support available in 8 languages, including a help center located in Lagos. If you have a question, you can always find the answer you need whether through the automated assistant or a help center.
Built-in analysis tools
There are more than 20 popular built-in indicators on the platform. These tools will help investors master trading strategies quickly and predict the changes in the asset price successfully.
For example, the RSI (Relative Strength Index) indicator, which graphically shows when an asset has increased or declined dramatically, is provided to help traders as a part of technical analysis. It is one of the more popular indicators for forex trading to determine whether to take a short or long position.
Take a look at the purple line under the currency pair EUR/USD’s chart. This is the RSI signal line.
When the line rises above 70, traders should short the asset. Conversely, if the line falls below 30, traders should take a long position. There are many other indicators traders can use on the platform.
Alongside each indicator is an arrow that brings up the platform’s automated Assistant; created to provide traders with information about the tools and how to use them.
Low Barriers to Entry
Platforms differ in many ways, and one key difference between most platforms is their minimums. Looking at the lowest amount that can be deposited, traded, or withdrawn is an easy way to differentiate between them. Olymp Trade’s minimum deposit is $10/€10/350₽/20R$, and you can trade any asset from $1/€1/100₽/5R$, and withdraws start at $10/€10/350₽/20R$.
Lower minimums allow more people to be able to trade. This is transforming the once elitist hard-to-enter realm of trading to an accessible life-changing tool.
Weekly webinars hosted by analysts and experienced traders are available on-demand on the Olymp Trade site. Topics range from What is Olymp Trade to VIP Recorded Trading Sessions. The number of videos and webinars also contribute to its YouTube channel with 900+ videos. All official videos are created by experienced Olymp Traders. These experts often give their viewers exclusive insights, analytics, and platform news.
Olymp Trade’s platform provides an investment multiplier, access to cryptocurrencies, analytical tools, and educational material in a plethora of languages. Its free automated assistant helps make complex strategies and tools easily understandable. Along with their 24/7 customer support provided in 8 languages, it is an all-around great platform on which to become a successful forex trader. Join the international Olymp Trade Community today!
This article is powered by Olymp Trade.