How to Register and Trade Forex at Olymp Trade
By Binary Option Blog
Register Olymp Trade Account
Firstly, to Register on OlympTrade Platform, you will need to find Login / Registration form as above. However, if you already have an account, you may login by entering your E-mail address and Password.
- Visit OlympTrade website or mobile app,
- Click on the menu “Registration”,
- Enter your E-mail,
- Enter your Password,
- Select account currency,
- Agree with terms conditions,
- In case of social registration click on “Apple” or “Facebook” or “Google”,
- Click on “Register” button
How do I register on the Olymp Trade Platform
If you want to Register on OlympTrade Platform, you will need to click on ‘Registration’ tab and fill all fields as it is shown above. You will be asked to provide broker with the following information:
- Your Name.
- Email address. Please make sure that you have access to E-mail address you entered in order to avoid the loss of the account and any other difficulties.
- Telephone number. You need to have access to the telephone number you entered as well, so be careful.
- Password. You will need to create a strong password to keep your account secure from others. Don’t forget to remember the password which you have created.
- Currency. You will need to select the currency you will be trading on (EUR or USD).
- You will also need to agree to the service agreement and confirm that you are of legal age (over 18).
- Finally, after all of the information is fulfilled, you may press on the ‘Register’ button.
How to register with a Facebook accountTo sign up with a Facebook account, click on the corresponding button in the registration form.
In the new window that opens, enter your login details to Facebook:
Once you’ve clicked on the “Log in” button, you will be automatically redirected to the Pocket Option platform.
To sign up with a Google+ account, click on the corresponding button in the registration form.
How to register with a Google+ account
In the new window that opens, enter your email and click “Next”.
Then enter the password for your Google account:
After that, follow the instructions sent from the service to your email address.
How to register Olymp Trade account from mobile app?
You can also download app on your Android or IOS mobile device and register from there. All steps are pretty the same as on the version for browser so you will not have any difficulties with it.
Can i register Olymp Trade account on my friend?
Olymp Trade is a serious financial service and you need to be honest with them. You won’t be able to open account on your friends personal information because you will need to verify yourself by sending a photocopy of your passport or ID with your picture on it.
How to Trade Forex at Olymp Trade
Why should I Invest in OlympTrade Forex Platform?At first, there are lots of currency pairs available for trading on olymp trade. Moreover, traders also making profit on the trends which you can find on this broker as well.
Secondly, you will be able to select the most advantageous strategy for trading. It will work even with small deposits.
Thirdly, such functions as: Take profit and Stop loss will help you to gain more from trading with small costs.
Fourthly, Trading on OlympTrade Forex is suitable for those who make lots of trades per trading session and respects long-term trades.
How to Trade on OlympTrade Forex?Firstly, there is nothing hard in trading Forex on olymptrade platform. However, if you already have experience in trading Fixed Time Trades it will be much easier for you to start. The following 6 steps will bring you up to date:
- Under the chart there is a menu, where you will need to select a currency pair.
- Specify the amount of trade.
- Make a forecast by analyzing the asset price chart.
Indicate a Take Profit parameter, if you want a certain profit. Then, a trade will be closed automatically. Press on the “Order” button to open this menu.
- The Stop Loss parameter will help you to set the limit for maximum loss. What is more, it will also help you to close the trade.
- The great thing is, that trade with the current result can be closed at any time.
First of all Forex trading. The conditions here are very tempting, as the minimum starting capital is from $ 10 and trading 24 hours a day, 5 days a week. This gives more trading signals in a shorter time.
Which Assets to Choose for Trading?
You can also choose Fixed Time, Stocks, ETFs and other assets that can be traded in completely different ways and in any term from one-day positions to long-term ones.
Having acquired a little experience at Olymp Trade, you can earn 50 thousand dollars with a minimum stake of 10 dollars, such cases have already been on the platform more than once. In general, newcomers can earn very little on the exchange at first. But that’s okay, as long as you don’t learn the intricacies of trading through practice.
Risks and Rewards in Trading Forex?Just like any market, there are a number of risks and rewards in trading Forex. Fortunately, the amount of either is wholly dependent on the investor, their experience, their ability to analyze data, and their independent decision making.
One thing to keep in mind is that there is a winner in every trade made between two parties based on the time that the transaction takes place and assets behavior following the trade. Traders should never risk more of their capital than they are willing to lose. Fortunately, with diligent effort and taking advantage of the plethora of educational tools available, a trader can often come out far ahead of the curve in profit.
Market VolatilityOn the surface, the exchange rate of assets in the Forex market might seem to move very little. For instance, the changes between the exchange rate of the U.S. and Canadian Dollars (USD/CAD) only fluctuated a total of 16 cents (0.16 USD) between 2017 and 2019. However, looking at the market chart below, one can see that there were many increases and decreases over that time period. These movements provided opportunities for investors to profit from these changes.
Because currency pairs are traded based on pips (often 0.0001 of the currency) as units and because of the sheer size of the amounts traded, there is plenty of activity within the market for traders to capitalize on.
Using LeverageTypically, currency pairs are traded in “lots”. A standard lot is 100,000 of the currency unit being traded. On the Olymp Trade Platform, “lots” are not used in order to simplify trading.
The size of these lots would normally price many investors out of the market since they don’t have $1,000 in capital to invest in one trade let alone $100,000. Therefore, brokers allow investors to use leverage to make trades in order to allow them access to the market and to increase their profits.
Here are some examples of using leverage versus only using margin to make a trade. The first example is based on a change of only 1 pip in the market. The second example is for a change of 5%.
Using leverage properly, an investor can see significant returns on their investments in relatively short periods of time. Of course, this comes at an increased risk to the investor and to the broker that agrees to lend the money for the leverage.
This problem has opened the door for creative brokers that have found ways to limit the risk to both the investor and themselves while still providing leverage for small investors.
How Olymp Trade Helps Turns Risk Into RewardNow you have a good general idea of how the Forex markets work and what is involved. Therefore, it is time to take a look at how you can tackle the Forex market on your own terms to create a more financially independent future for yourself. Olymp Trade is here to help.
Here are some ways that new investors can overcome the risks of investing in Forex and still trade profitably with only a small amount of capital.
- Learn how to use market analysis tools, read charts, and spot market behaviors
- Get educated on strategies used in trading Forex
- Learn from expert traders on what they look for when trading
- Open a “Demo Account” with a broker to practice
- Set achievable goals and develop a strategy to reach them
Maximizing Profit While Reducing RiskOlymp Trade has used creative methods to help investors get the most out of their capital while providing them tools to reduce the risk on their trades. Here are some of the best features of the Olymp Trade platform available to traders.
Forex Trading Multipliers – Earlier we explored an example of how using leverage can turn a small investment into a highly profitable trade. Unfortunately, this came with the risk of owing the leveraged amount to the broker if the trade goes badly.
To compensate for this, Olymp Trade allows traders to use leverage with multipliers as high as 500 times the invested amount on trades. However, trades will automatically close once the amount of the margin invested is lost on a trade gone bad. Below is an example of the Olymp Trade multiplier and how it works.
The upside on the trade is still the same as with normal leverage, but in order to protect investors, the position will automatically close when the invested amount lost reaches 100%. In this way, the investor never needs to worry about owing the leveraged amount to Olymp Trade if the trade doesn’t perform as expected.
Even better, using Olymp Trade’s “Stop Loss” tool, the trader can set an amount for the position to close if it goes the wrong direction. The Stop Loss tool is automatically set at 50%, but can be adjusted by the trader depending on the level of risk they choose to take.
On the profitable side, traders can also set a position to automatically close once it reaches a certain level of profitability. Using the “Take Profit” tool, traders decide at what level they are satisfied with the profitability of a trade. Once it is set, they can walk away knowing that when the position reaches that profitable point, it will be closed and the profit added to their account.
The combination of the multipliers, stop loss, and take profit tools gives traders more control over their investments. Even when they can’t be at their phone or computer watching the action firsthand they can feel comfortable.
A further benefit for Olymp Trade’s Expert members is the ability to enter risk free trades a certain amount of times per month. Olymp Trade’s Expert program has numerous advantages, but the ability to cancel a trade gone bad periodically is a huge step in reducing the risk of Forex trades.
Gaining Knowledge and Expertise in Trading Forex Using ToolsOne of the key hurdles for new investors that can add to the risk is a general lack of knowledge and experience of the market itself. Fortunately, there a number of ways to get the education and experience you need to be successful in the market.
Olymp Trade provides many different tools to help their clients reach their investment goals through the Forex markets. It isn’t difficult even for beginners as long as they’re willing to take some time to become knowledgeable and gain some experience.
Some of the tools available to Olymp Trade clients include:
- Video and blog tutorials on how to read charts and analyze them correctly
- Videos and blogs from experts on creating your own charts
- Olymp Trade platform provides free, customizable analytical tools
- Online trading assistance from experts in real time on the platform
Taking only a few hours a week to build your education can pay huge dividends in the coming months as you build your portfolio.
Practice Leads to SuccessAs part of the first steps on the market, we recommend that you do not neglect demo trading. Even if funds allow you to spend a significant amount on gaining experience and testing various strategies, there are a number of nuances that do not require material costs.
The demo account Olymp Trade allows you to learn on the amount of $ 10,000 without incurring any losses. Within the framework of educational trading, you will be able to study the trading terminal, see real orders, get your hands on, correct minor technical mistakes when testing trading ideas. And all this is risk-free and absolutely free.
Do Trade like Your Own BusinessOver time, you yourself will probably understand what you are missing in the work on the exchange. Perhaps you need expert help and trading advice, which you can get on Olymp Trade webinars, as well as in the large community where you can communicate with traders and get advice. Use analytics and do extra training all the time. Remember only one important point: almost everyone can make money on the stock market.
Source: Olymp Trade - olymptrade.pro - olymptrade.pro | How to Register and Trade Forex at Olymp Trade - https://olymptrade.pro/how-to-register-and-trade-forex-at-olymp-trade-1008117
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