To answer for questions like: When will Olymp Trade close? What is the reference for Olymp Trade price? Did Olymp Trade broker manipulate price to make money? There’s many questions about Olymp Trade which imply that it is a fraud. This article will help you answer thoroughly those questions.
We claim that: We are traders of Olymp Trade. We have traded and earned money in this platform and will share honestly our experience about this platform without lying.
Olymp Trade Club will guide you how to check if a trading platform is creditable or not. After that, we will use the method to check Olymp Trade.
How to check if a trading platform is creditable?
All trading platforms you know allow customers to trade online. For example: Olymp Trade’s is olymptrade.com. Therefore we can check the creditability of a trading website based on the web itself.
Standards that you consider if you look at the domain of a website
Firstly, traffic statistics in a day, especially unique visitor traffic (visitors that visit the website through a unique IP address). You must understand this is a type of trading website, therefore, its daily traffic must be high.
Secondly, the wordwide rank of the website, especially its rank in financial field.
Thirdly, the address of host (site is hosted in…). If the broker plan its development in South East Asia, they will put the host in Singapore or Indonesia.
Fourthly, where does the traffic come from? If you have Olymp Trade account, you will often access Olymptrade.com. Then you become one of the direct traffic sources of Olymp Trade.
Finally, where the traffic sources come from. The more countries they come from, the better the website is. You should watch out if only few countries’ residents use the website.
To evaluate all those standards, Olymp Trade Club encourage you to use Hypestat.com. There’s a lot of websites that you can use to test the cretability of other sites. However, you need to pay money to use them but Hypestat.com.
I will guide you how to use this website for Olymptrade.com and you can check other site with the same way.
So the question is that: Is Olymp Trade scam or legit?
Firstly, let’s check daily traffic. There’s over 1,3 million people access the website and among those, there are 972,760 unique visitors.
Secondly, OlympTrade’s wordwide ranking: 1,323.
If you want to compare Olymp Trade’s ranking with other websites in finance, you can check here: https://www.similarweb.com/top-websites/category/finance/investing
Thirdly, host address. You can find in Google map for host address.
Fourthly, it’s direct traffic source of olymptrade.com. 40,90% of daily traffic sources are direct traffic. Every 100 visitors, there are 41 visistors are direct visitors, others come from advertisment and other sources. 41 visitors are most likely traders who access Olymp Trade for trading. Nowadays, most of trading platforms have their own smartphone apps. Therefore, the traffic of website may decrease gradually. For example, only 27% of the traffic in IQ Option platform comes from direct visitors.
Finally, where does the traffic come from? Actually, Indonesia is not one of the main sources of the traffic.
If you doubt that Olymp Trade is a scam, you can check and compare with other platforms which you think they are creditable.
When will Olymp Trade close?
A 5 years international trading platform cannot disappear overnight. Let’s use trend search of Google to check Olymp Trade:
There are people from 40 countries all over the world searching Olymp Trade. The blue dots show where people find information about Olymp Trade or access it. The white area is where Olymp Trade has not come yet. Maybe those countries restrict options trading or the broker has yet to become popular in those countries.
What does Olymp Trade refer to determine its price?
Again, an endless story about the origin of price movement in the platform. Is it international finance center or creditable currency exchange rate website?
Answer: All are just reference for price movement in the platform. The platform makes the value smaller 10 times or 100 times than reality.
Therefore, reference exchange rate is divided to take advantage of price. This is how a platform get its profit from traders
So does Olymp Trade manipulate the price?
Trading option platforms all manipulate the price. However, this only affects you if you trade in a short time frame. If the reference price does not fluctuate much, the broker can manipulate the price in the short time. In 5 minutes or 10 minutes, broker cannot manipulate the price because the movement is very obvious.
The story of 60 seconds order seems never end. If the order time frame is short, you will get pressured and affected by broker’s price manipulation. If you are a beginner, you should start with long time frame orders from 5 minutes. If you are still afraid that price is manipulated, you can increase the time frame to 30 minutes. The longer is the time frame, the more obvious is the trend and broker have to follow the reference price of the world.
You do not want to make money in Olymp Trade?
If you think Olymp Trade is not creditable, you can just leave it and find another platform. Olymp Trade is still there with 972,000 visitors per day. It will survive and develop in the future. I hope that you can take responsibility for your choice of being a trader in Olymp Trade or just leave for safer earning sources.
Maybe one day, Olymp Trade gets locked or just disappears or we will realize that it is just a scam. If it happens, we may be disappointed, but we take full responsibility for our decision.
We do not tempt you into this options game or organize any activities that advertise for Olymp Trade. If you have any opinion about Olymp Trade, we are willing to listen, please leave a comment and we will discuss with you.
Wish you success!