If you are on this post then you have come to know whether Olymp Trade is a real app or fake? Can money be earned from Olymp Trade?
You must have seen the advertisement of Olymp Trade. Many Youtubers have also promoted this app. People claim that this is a real platform and anyone can earn money by trading on this platform.
Many Youtubers and social media influencers also show the earnings from this app and try to prove that it is a real platform.
In this article we are going to review Olymp Trade App. If you want to know the truth about Olymp Trade then read this article carefully.
Table of Contents
What is Olymp Trade?
Olymp Trade is known as a trading platform. In this, assets like Gold, Silver, Cryptocurrency, Currency, Index and Stocks are given for trading.
This platform also allows trading in Forex and Stocks. Demo account is also given for trading in it. Rs 10,000 are available in the demo account. Using this money you can learn trading.
When you create an account in this app, you are given training in it. After training you learn to use this app well. In this, money has to be deposited to trade from a real account.
In this, to trade from a real account, a minimum of Rs 700 has to be deposited. Up and Down buttons are provided for trading in it. If you think that the graph will go up then you have to click on Up.
If you think that the graph will go down then click on Down and invest money. After this, if the graph goes as per your estimate for the time period for which you have invested, then you get the money.
Similarly, if you have predicted that the graph will go down in 10 seconds, then your guess turns out to be correct, then you will get much more money than the amount you have invested.
Olymp Trade real or fake
Olymp Trade is a fake trading platform and no one can earn money by trading here. There are many reasons for this platform being fake and here I am going to tell all those reasons.
Let me tell you that many apps like Olymp Trade are fooling people in the name of trading. People do not have complete knowledge about trading, due to which people become victims of their scams.
Let me tell you, trading always happens between two people. If you have predicted that the market will go down, then at the same time someone else has predicted that the market will go up.
After this, if your guess turns out to be correct, then the person who had guessed that the market will go up, if his guess turns out to be wrong, then you get his money. This is how we earn money in trading.
Matching of two opposite people is very important in trading. If this does not happen then your trade will not be confirmed and there will be no benefit in investing your money.
Let us find out what is the reason that proves Olymp Trade to be a fake trading app.
1. Fake Graph – Its graph is completely fake. If you compare its graph with a real platform like TradingView, you will find that its graph is completely fake.
2. Government Registered – This company is not Government Registered, which means this company is working illegally in India.
3. No KYC – There is a government law that it is mandatory to do KYC for all the money earning apps but there is no KYC in Olymp Trade. This clearly means that she can run away with your money at any time.
4. Trading Information – When you trade in it, no trading information is given in it. It neither provides any feature to analyze the market nor does it provide any investment option.
5. All Asset – All types of assets are given to trade in it, which is not possible in a real app. This clearly shows that this app is completely fake.
6. Fake Profit & Loss – In this app your profit and loss are shown completely fake. Actually neither do you make profit nor do you suffer loss. All this is a ready made system of this app.
7. No Account Verify – This app also does not verify your account. When you enter an email ID to create an account in this app, this app does not even verify that email.
Olymp Trade Withdraw Review
When withdrawing money from Olymp Trade, your money is not transferred to the bank. This is a fake company and does not give money to anyone. Once you invest money, you are not able to make profit and all your money is lost.
Conclusion – All these reasons clearly show that Olymp Trade is a fake trading platform. All the Youtubers who are calling this app as a real trading app are lying. All those Youtubers have been paid to promote this app, hence they are making fake videos.
If you really want to earn money from trading then you can open an account in Angel One. This broker has been providing service for 30 years. This is a very reliable broker, so you can open an account in it and do trading in the share market.
No, Olymp Trade is not banned in India but RBI had issued a circular advising to stay away from fake trading apps.
No, Olymp Trade is a fake platform and you will only suffer losses here. Therefore do not use this platform
Olymp Trade is not safe at all in India. You will always incur losses by using this app.