This article will share the experience of trading, depositing and withdrawing money at Olymp Trade. I also talk about how long the money will go from Olymp Trade to the bank account, how to fix when there are charging and withdrawing problems.
- 1 Deposit and withdraw money at Olymp Trade through each phase
- 2 Stupid mistakes when depositing into Olymp Trade
- 3 The time money returns from Olymp Trade to your bank account
- 4 Errors in withdrawing money from Olymp Trade to the bank account and how to fix them.
- 5 Summary
Deposit and withdraw money at Olymp Trade through each phase
The first deposit at Olymp Trade
Make sure you have at least 2 weeks trading Demo. If you demo less than 2 weeks, don’t ever deposit any money into your account. Two weeks is enough for you to know and understand this hybrid-gambling game. It’s also enough for you to make a plan, prepare your first deposit to earn money at Olymp Trade.
There are 2 ways to deposit into a new account. (Example: the prepared capital is $50)
+ Charge all $50 into Olymp Trade. Don’t forget to find a discount code when making a deposit. After joining the Facebook group, the admin will give you the code when you ask.
+ Divide to charge two times. For example: Charge $10, open one single order $10. If win, withdraw. If lose, charge the remaining $40 to receive a 100% bonus for the 2nd charge.
Ok. No matter how much money you deposit you have to withdraw money for the first time.
Many people say that after depositing money into Olymp Trade, trade all loses. Please excuse me. It’s your own fault 100%. If you deposit $50 for the first time and open orders 3 times using $1 each time, you can completely withdraw money. The probability of losing three consecutive orders for the first time trading at Olymp Trade is very unlikely to happen.
Why must I withdraw for the first time? Our ultimate goal is not to win or multiply the amount of money at Olymp Trade, but whether the money can return to the bank account or not. Therefore, regardless of whether you win or lose the first time, you must click on the withdrawal button and sign out the account. Absolutely DO NOT CANCEL WITHDRAWING MONEY. Because when you click on the cancel button, the chance that your account is burned is very high.
I repeat again: By all means, you have to withdraw money for the first time. If you cannot withdraw, read the section below. I will guide you how to fix it.
Immortal with $50 within 1 month
Deposit $50, trade and try to keep your account not to burn for 1 month. Don’t think about a way of making money fast and easy. There is none.
During this process, you start verifying your Olymp Trade account. In 2 ways:
+ Go to the profile and follow the instructions. Read this article for details: How to verify your Olymp Trade account
+ A number of Olymp Trade accounts does not have this authentication. You can take a picture yourself and send it to the email: email@example.com.
Before increasing the capital to $100 or more, make sure your account has completed the verification procedure. Do not let these simple things affect the withdrawal process later.
Increase the capital at Olymp Trade
This is when you have completed everything at Olymp Trade. The story now is whether you can earn money or not
Restrict yourself to using credit or debit cards with Visa and Mastercard logos. Reason:
+ Absolutely do not use the loan to trade.
+ The fee of USD exchange rate difference at the bank is quite high.
+ The time it takes to withdraw money is longer than internet banking account.
Stupid mistakes when depositing into Olymp Trade
Normally, you can deposit with a “lightning” speed. Fast, extremely fast. Still, there are some people who can’t deposit into Olymp Trade. These are the reasons:
– Use internet banking to deposit into Olymp Trade on the smartphone. The advice is to turn on the PC and laptop or use firefox, chrome browser on the smartphone to deposit.
– The system is under maintenance (Olymp Trade payment portal has errors).
– Failure to register for internet banking to receive OTP, insufficient bank account balance or wrong owner information.
If you have problems when making a deposit, check the above issues.
Things like using Visa for multiple accounts or violating policies … are not important because the platform still lets you deposit normally. But Olymp Trade doesn’t allow you to withdraw.
The time money returns from Olymp Trade to your bank account
Of course, these are cases where you have 100% verified accounts at Olymp Trade
– If you use internet banking
+ Withdrawal below $100: Within 1-2 minutes, there will be an email of withdrawal notice. 15 minutes later, a mail informing that your Olymp Trade account has been deducted (payment approved by the platform). The money will go to the bank account 30 minutes later if fast. If slow, it takes more time (withdraw in the morning, money return in the afternoon). According to my experience, you should withdraw in Russian time from noon to afternoon.
+ Withdraw 2 times in the same day (under $100). If the first payment is quick, you can withdraw the 2nd time. But the second payment will take about 5 hours.
+ Withdraw over $100 (including several thousand dollars). You’ll have the payment approval mail of the platform from 5 to 15 minutes (Olymp Trade has deducted money in your account). When the money return to the bank account is a matter of lục. Sometimes just 30 minutes later, you have received a message about your money. Sometimes you may wait until the next day. Reason: I guess the legal representative of Olymp does not have enough balance to pay or expire the deposit limit.
Experience: Withdraw all of your money on Thursday. Money comes on Friday and has some fun on the weekend. During the week, whenever you have profits, withdraw them. You have to withdraw every day. Withdraw to keep money. Withdraw to defend. Because it only needs one time you can’t overcome a psychology issue, your account will probably be burned down.
– If you use Visa/Mastercard
+ Withdraw below $100. Money returns as normal. Nothing is big except for the exchange rate difference is high.
+ Withdraw over $100 (even $5000-7000). You will have notification email that your money in Olymp Trade account has been deducted in 10 minutes. But money sometimes comes after 3 days. Reason: Either waiting for the payment review of the platform or the bank. A small amount of money is no problem but a large one is very long. If you withdraw on the weekend, the money will come in the next week.
– If you use digital wallets
Only 2 digital wallets are quite common that you can use: Neteller and Skrill (Do not use Bitcoin because of the extremely high price difference).
I have never used digital wallets personally. But through discussing with some good brothers, I know that the speed the platform transfer money to digital wallets is pretty fast, from 1 to 24 hours. With Neteller or Skrill, the price difference is relatively high. To avoid devaluation, you can sell through a number of reputable intermediaries.
It sounds complicated, right? So take some time to make one internet banking account.
What if I withdraw money from Olymp Trade but it doesn’t return to my bank account after 3 consecutive days?
Click immediately the Support button at the Olymp Trade interface and ask. It will tell you what to do, what problems your account has. If you are a VIP, there will be a personal assistant to tell you why.
Most of the reasons why you can’t withdraw money from Olymp Trade are below.
Errors in withdrawing money from Olymp Trade to the bank account and how to fix them.
Verifying Olymp Trade account error
Reasons such as Investigation of financial fraud, verification of account owners, money laundering doubts… All these reasons show that your account is not verified yet. If facing these errors, you have to wait 20 days or more. Even if you provide enough information (identity card, bank statement …), you must still “sit there and wait”.
Don’t be too annoyed to do anything. Just take it slowly. Money sooner or later will come to you. Olymp Trade only has a long-time payment fault, but never fail to pay anyone.
Sharing bank card with another account error
This is my fault recently. Although account verification is complete, it shares information with the old Visa card.
Getting another ATM card is easy. Nothing big, but you have to wait for verification again.
Olymp Trade approves the payment but the Bank doesn’t
This is rare because you use a VISA card account as well as the balance of a few thousand dollars. So you should go to the bank and clarify the source of the money.
Bonus withdrawal errors
You are able to trade and burn all bonus but can’t withdraw it. In the past, there is a regulation on trading enough transaction volume, but now the platform doesn’t pay bonus. Therefore, when withdrawing money, pay attention to this. Only withdraw less than the available balance.
Withdrawing money into a strange account error
Usually, when you recharge, all information will be saved. You can only withdraw money to the card you have deposited. For example, I have both VISA and ATM (internet banking). I charge and withdraw from Olymp Trade with these 2 accounts. It’s all OK. But if you withdraw to another card or fill in the wrong card information, there will be an error immediately.
Solution: You can cancel and make a new withdrawal. Very simple.
If you want everything to be smooth, read the experience. That’s all I’ve gained from the moment I started trading at Olymp Trade till now.
And finally, the question is: Do you have the ability to earn money to withdraw? If you win in the first 3 orders, let’s withdraw. Any kind of withdrawal – capital or profits is both ok. You should withdraw to minimize risks later.
Any more comments? Share below to let everyone know your problem. I will ask the assistant of my VIP account or answer your questions myself. Leave a comment below