Olymp Trade - discussion
Does this broker suit beginners? If anyone has a real trading experience, could you please share your opinion? Does this broker pay? How is the quality of the training, comparing to other brokers?
I believe that Olymp Trader is one of the best platform for trading. I think that it pays. The biggest difference between this platform and others is the transaction fees. I would recommend this for everyone that want to enter the field of trading. You will surely like the experience.
I checked out a couple of lessons on the demo account, but I didn't understand whether it's more profitable to trade forex or options. When trading options you might get overexcited, and it's not always good. And I still don't understand, why aren't there any spreads here?
This is a very good question that many people ask. I believe that Olymp trader is one of the best options for you if you are seriously thinking about trading. I would recommend you to give it a shot and see how things go for you. Looking forward to your response.
Olymp trade offers to trade on forex with commissions that are generally at the level of the spreads of other brokers or exchanges.
And what's the point of replacing spreads with commissions? The whole civilized world uses charts with spreads, and there's no such thing here. This is suspicious.
Apparently, the broker is trying to simplify trading to novice traders as much as possible. The commission is easier to understand, besides the value of the commissions is fixed. Spreads are always floating. During the period of global events, spreads usually increase and every broker's spread's width is arbitrary, it provokes different questions, for example, whether the spread correspond to average market values and so on. In our case, if the order is opened and a new wave of volatility arises, the order doesn't incur any additional costs. This is an obvious commission advantage.
Here Olymp isn't being original. There's basically no spread on Bitfinex either. There is a half dollar difference between two orders even for bitcoins. Moreover, there is no commission.
It is impossible to compare the conditions here and there. Bitfinex has zero commission which is available only for crypto sellers who have a half a million dollar turnover. If you don't only sell but buy too, then you will have to pay the commission as well.
How can a broker be compared with an exchange? There are hundreds of coins on crypto-exchange. Some of them are very cheap. You bought it and forget about it for a couple of years. Then you remember about it and become a millionaire))

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