- Olymp Trade is **not regulated** by any reputable financial authority. It is only a member of the International Financial Commission, which is a self-regulatory organization that has no legal power or credibility¹.
- Olymp Trade has been **accused of scamming** many traders and withholding their withdrawals. There are numerous complaints and negative reviews about Olymp Trade on various websites and forums³⁴.
- Olymp Trade has a **low trust score** on Trustpilot, with only 48% of the reviewers giving it a positive rating. Many users have reported issues with verification, withdrawal, customer support, and platform glitches³.
- Olymp Trade has a **poor reputation** among professional traders and experts. It has been labeled as a **fake forex broker** by 55brokers.com, a website that provides unbiased reviews and ratings of online brokers¹.
- Olymp Trade has a **limited range of trading instruments** and does not offer many features or tools that are essential for successful trading. It also has **high spreads** and **low payouts** compared to other brokers⁵.
Based on these facts, I would advise you to **avoid trading with Olymp Trade** and look for a more reputable and regulated broker instead. You can find some suggestions for choosing a good broker [here](^2^). I hope this helps you make an informed decision. 😊
Source: Conversation with Bing, 9/2/2023
(1) Is Olymp Trade Legit, Real or Fake Forex Broker (2023) ☑️. https://55brokers.com/olymp-trade-review/.
(2) Olymp Trade Reviews | Read Customer Service Reviews of olymptrade.com. https://www.trustpilot.com/review/olymptrade.com.
(3) Is Olymp Trade Safe? Everything You Need to Know. https://blog.olymptrade.com/faq/is-olymp-trade-safe-everything-you-need-to-know.
(4) Olymp Trade review (2023) ++ Scam or not? | Real test. https://www.trusted-broker-reviews.com/olymp-trade/.
(5) . https://bing.com/search?q=olymptrade+legit.
(6) undefined. https://findly.in/is-olymp-trade-legal/.
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