OlympTrade - Whether we can trust this broker or not?

#71
Agree. I've recently opened a real account at Olymp and since I've started (which is only a few weeks) I've seen some major changes in the platform. More than that, demo users don't even suspect how many more features Olymp has got but saves those for VIP clients. Some of such features like interesting indicators, trailing stop loss, real-time trading signals - those were the prizes for their recent anniversary tournament. I bet real-time trading signals could be easily transformed into a algorithmic trading development environment within OT trading platform. I think this is a good idea to start requesting such changes by e-mail or support chats. Sooner or later they will make their clients happy :)
 
#72
The problem here is that most forex brokers avoid automated trading systems. They don't normally state this clearly, but very often they will limit bonuses on accounts using Expert Advisor, don’t count EA volume for referral programs, etc. Why they do this is the other question. I think Olymp will hesitate to introduce automated trading as well.
 

stoch

Active Member
#73
I use Olymp to hedge some of my orders at Hotforex. Basically using these two brokers we can construct various positions with improved ratio of risk-reward.
 
#74
I use Olymp to hedge some of my orders at Hotforex. Basically using these two brokers we can construct various positions with improved ratio of risk-reward.
Interesting approach! I guess its possible as long as commissions of your other broker are as law as Olymp's .

The problem here is that most forex brokers avoid automated trading systems. They don't normally state this clearly, but very often they will limit bonuses on accounts using Expert Advisor, don’t count EA volume for referral programs, etc. Why they do this is the other question. I think Olymp will hesitate to introduce automated trading as well.
Hmm, never thought of this. Does anyone know why?
 
#75
Interesting question. I think it has something to do with liquidity. Brokers that use internal capacity to maintain necessary liquidity, have to take care of the balance regarding this matter. It can also has smth to do with maintaining the necessary technical base for all the orders that come through. As an example if the broker has an average number of clients having the average number of trades every minute, it knows that in order to maintain the desired quality of connection along with the quality of executions (the speed), they need to have this many servers and that kind of a connection speed. Hope you did get what I’m trying to say. So, if the number of trades grows, this will mean that broker will need to renew the whole technical base, get more equipment, pay for better connection, etc. I think this can be worth it in a long-term prospective, but it can be difficult. This is why they just prefer to limit traders with manual trading style. Well, I’m not sure I’m correct 100%, but this is just an opinion.
 
#76
Makes sense. Alright, the only way to find out if Olymp is going to limit scalpers and EA usage is to wait and see when they launch full support of Metatrader. For now scalpers feel perfectly fine here. 15 seconds timeframes support in original platform is the best proof.
But I’ve got a question here for Olymp’s customers. If you could introduce any changes to the platform, what would those be?
 
#77
Hmm… I’d really like to see the trading volumes. For forex this is not really possible, cuz currencies markets are pretty decentralized. But if it was possible to get the volumes from CME for SnP500 or smth like it, that would be great. On the other hand, I think the simplicity of Olymp Trade platform is one of it’s key advantages as it keeps the platform very stable. It doesn’t kick me out for no reason, does not have any bugs that I know of. This is a clear sign that developers did a great job there. Adding more features can affect the stability. So if you ask me what I prefer, trade as it is and have no troubles or pout my trading at risk for the sake of new features, I’d definitely go for the first option.
 

stoch

Active Member
#79
Interesting approach! I guess its possible as long as commissions of your other broker are as law as Olymp's .


Hmm, never thought of this. Does anyone know why?
Nope, Hotforex commissions are much lower and also Olymp sometimes executes such bad practices as delaying profit withdrawals due to "account audit" etc. But anyway I generate trading revenue primarily from Hotforex, while Olymp trades are made as insurance trades.
 
#80
It really surprises me that Olymptrade trade survived for so long and it seems from the discussion in this thread that the plaform is real.
I’d say they not only survived but looks like they’ve got more plans to work on. I’m little conservative myself and don’t like to change much and rapidly in my life. But as long as changes come in little by little and make trading platform even better - why would I complain? Overall, yeah, 6+ years Olymp is on the market. That’s an excellent result and brings company to a high trustworthiness level. I hesitated long before opened an account here, but now its about 2 month since I’ve started trading live and all goes smoothly so far. I didn’t have a chance to withdraw more than I’ve initially invested yet, but fingers crossed this day is not too far ahead.
 

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