Olymp Trade Binary Options Broker Tutorial in English for Sri Lankans
Olymp Trade Tutorial in English, Sri Lanka. Olymptrade Binary Options Broker is one of the highly respected and regulated ( FinaCom ) binary option brokers from Belize. Though it has limited number of currency pairs compared to other brokers, it has one one of the modern high speed web trading platforms, fast withdrawals and expiry times ranging from 1min to 12hr ( Fixed times )
1. How to open an Olymp Trade binary option demo practice account for free ?
You can open a free demo account free of charge and practice as long as you want to get use to the system. You can register using the link below.
Choose "Start Trading" link in website.
Choose "Registration" tab from the popup window that you got.
Insert your name, email, phone, password and choose "Your Currency" as "Dollar" from the popup window that you will get. Then place a tick for "I am of legal age and I have read and agreed to the service agreement". Next click the "Register" button.
You will receive an email shortly from Olymp Trade, asking you to confirm your email address. So click the link in that email to verify your email address. Registration is complete now !
2. Learn about broker dashboard and Web Trading Platform
Once your registration is successful. You will see a similer window like the below one. So let's see the features of Olymp Trade platform and how trading can be done using the web platform.
1 - Menu
This is the main menu. Deposit, withdraw, transactions, trades, profile, quotes, trading platform, education, contests, analytics, About company, regulation, language switch, logout button, theme changer, sound on/off are the links that you can find within it ( Logout icon is located at the bottom right corner of that menu drop down section )
2 - Choose desired currency pair or crypto pair
Using the plus sign ( + ), you can choose any currency or crypto currency pair for trading ( Currency pairs available on working days only. Crypto pairs are available on all days ).You can open any number of charts for trading and also place multiple orders too ( You can close the charts using "x" )
3 - Chart Types :
You can choose Area Chart (Default ), Japanese Candlstick ( Most suitable ) or Heiken Ashi charts from this section.
4 - Technical Analysis :
The platform is ideal for technical analysis and looks almost similer to features & user friendliness of ctrader platform. A new window will open with a chart once you click "technical analysis" link. . You will get all kinds of lines & shape tools on left hand side section ( marked in green colour). ( You can remove anything added to charts using the "x" sign on right side )
5 - Indicator Types:
You can choose and add any popular indicator to your charts ( SMA, EMA, MACD, Parabolic RSI etc.. ).
6 - Switch between Demo Account and Live Account :
You can shift between Demo and Real Live account using this section.
7 - Deposit Money :
You can deposit money to your live account ( You can learn about the process later on in this article ) or reload the demo account using this section.
8 - Support :
You can use live chat option to get customer care support when ever you need any help.
9 - Educational Materials :
You can get free trading educational material offered by Olymp Trade Binary broker ( It may be useful for you mate ! )
10 - Trade Expiry Time :
You can choose trade expiry time between 1min - 13 hrs period from this section.
11 - Amount per Trade :
You can choose the amount that you are going to use per trade using this section.
12 - Payout :
This section displays the amount that you will receive as profits for successful predictions.
13 - Up & Down :
This is the section to enter the trade. Choose "Up", if you assume the price may go up based on your analysis. Choose "Dowb", if you assume the price may go down based on your analysis.
14 - 2 Factor Authentication :
Using this option you can further increase account security. It is not necessary at this moment but you can use it for higher security ( You can close the window at any time using "x" )
3. Trade Free in Demo Practice Account
Trade 100% free and also without any risk using the free demo account to make sure you learn trading properly and practice in order to do live trading ( any time you can start live trading ). Also make sure you consider following facts too when executing a trade.
1. Why I enter the trade ? ( Consider Analysis and Rules )
2 Am I trading with the trend ?
3 Did I consider the Support / Resistance ?
4 Did I consider the chart patterns and candlestick patterns ?
5 is my mind ready for trading or not ? ( If not, trade only after you feel that you are ready for trading )
6 Is any major economic news to be released anytime soon ? ( If so, Trade only 15min before or after that news/s. Use Economic Calender to identify news and news releasing times. Adjust the GMT time accordingly to make sure the news times tally with your geo zone. If you are in Sri Lanka, use +GMT5.30 )
7 Money Management
Once you decide to enter the trade after your analysis; choose the expiry time, amount and then choose "UP" or "Down" ( 5min or higher is more suitable but you may use any time based on your trading pattern. Also stick to a fixed amount for each trade rather than using various amounts for each trade )
In case the demo account capital falls below 5000D, you can reload it using "Make a deposit" yellow button on top. Click "Deposit upto D10,000" which appears on the pop up window. It will get fully reloaded !
Once you are successful in demo practice account, you may enter live trading as per the below details.
4. How to deposit real money to Olymp Trade Binary broker ?
You can add real money to your account at any time and start live trading. So let's see how you can do it.
Click on "Make Deposit" yellow colour button on top. You will get a popup window as below one. Then choose "Deposit From $10" at the very bottom
You will get a window as below one. You will get options like Skrill, Neteller, VISA, Master and Bitcoin as funding methods. It is more suitable to use Skrill or Neteller to fund the broker account because if you use Visa/Master cards directly, you will be only able to withdraw the amount you have deposited and to withdraw profits you will still need one of the above e-wallets. So better to start with Skrill or Neteller.
So choose any preferred payment method
Then you will get a window as below one. You will get a Bonus when you deposit above $30 but this bonus amount cannot be withdrawn. So if you think it will help you in trading, you may choose bonus as well. Also please remember that trading is a high reward investment but carry a high level of risk. Therefore invest only what you can afford to take a risk with mate 😎
You can deposit $10 to $5000 at a time. Depending on the amount you plan to deposit, The "account balance" will show how much will be credited to your account and how much you will get with bonus on right hand side. If you do not want to get bonus, Choose "No Bonus" instead of "Deposit Bonus" from "Bonus" section. ( if you wish to receive a VIP account, You will have to deposit $2000 or more. In VIP accounts, they allow certain number of non risk trades ).
Ok, Let's choose the amount you wish to deposit and click "Deposit" button. Then you will get a page where you have to enter the ewallet / card details to make the payment. That's it !
5. How to make money withdrawals to e-wallet ?
You can do it easily. Go to "Menu" ( The three dash icon on top left ). Choose "Withdraw" link in it. Then from the next page that you get, enter your skrill / neteller account details and amount you need to withdraw. Finally choose"Send a request". You will receive you funds within a maximum of couple working days.
6. How to verify account
a) Email Address Verification ( If it is not done yet )
If you still did not verify the email address. Please login to your email account and looks for a confirmation email from Olymp Trade broker ( Also check the j-unk folder as well. Sometimes it may land in it depending on your security / email server settings ). Once you locate the email, open it and click the confirmation link in it.
b) Phone Verification
Go to "Menu" ( The three dash icon on top left ). Choose "Profile" link. Then verify your phone number by filling the necessary details ( Some times the sms verification code takes time to come. If it happens to you, try it again on another day and it will work )
c) Two-factor authentication for better security
Go to "Menu" ( The three dash icon on top left ). Choose"Profile" link. Then choose "enable" for "Two-factor authentication" . You will receive a sms code. Enter it in the profile page and get it confirmed ( You can disable this feature by using "Disable" button in front of it at any time)
d) Identity Verification in Olymp Trade Binary Broker
Basically you will require : Passport or National Identity Card in English Langauge ( or National Identity card in Sinhala and Driving License )
You can submit these documents when they request you to do so. If you wish to get it verified before that, you may send a message to live chat saying that you need to get your account verified, they will send you an email address to which you need to send the necessary documents. You will need the following documents.
i) Selfie photo with your Passport ( page that contains your details ) where your face & shoulders should be clearly visible.
( Those who do not have Passport will have to take a selfie with both local language NIC and Driving License )
ii) Scan or Camera copy of the page in passport with your details.
( Those who do not have Passport will have to take a scan or camera copy of both sides of NIC and Driving License )
iii) Screenshot of ewallet ( Skrill / Neteller ) showing clearly your account number and payment transaction details to Olymp Trade
Your account will get verified in around 2 - 14 days.
Regulation Body of the broker
International Financial Commission ( FinaCom ) of Belize Government regulates Olymp Trade broker. You can learn more about it using "Regulation" menu link in website. You can trade safely as Olymp Trade is a regulated broker.
Please remember that trading is a high reward investment but carry a high level of risk. Therefore invest only what you can afford to take a risk with mate. Good Luck ! 😎