Alternatives to the standard ways of making money online with Olymp Trade
The internet has become an integral and inseparable part of our life. It’s not so long ago that it was hard to even imagine that people would make living without having to leave their homes or while travelling especially with Olymp trade South Africa. There are plenty of options, you can write articles, take up social network marketing, do some design work, etc. As is often the case, some things will require initial resources (money, professional knowledge, contacts) and some can be started from scratch.
Among these options, one that is becoming increasingly popular is online trading with Olymp trade. The easiest way to learn the ropes is by taking up binary option trading. You shouldn’t expect huge amounts of money straightaway but it’s possible to start making good money in a couple of months.
Ок, but how do I actually earn money with Olymp trade?
The essence of binary options can be described in a couple of short sentences. You bet, i.e. predict, on the asset’s price direction. The bet will expire in a certain amount of time. Upon the expiration, in case your prediction was correct, you can take up to 90% of the bet amount.
We’ve used the word “bet” just for the sake of a good example. In reality, binary options have nothing in common with actual bets, like bookmaker betting. Here you need to understand how and why the market price direction changes and be able to come up with your own analysis. And this is exactly the key to successful trading; you need sufficient knowledge to analyze the market.
Before we go any further…
All of your effort to learn binary option trading will be futile if you trade with untrustworthy companies. You can fall for them easily. They’ll promise good conditions, which actually might be nice. But the minute you try and withdraw your well-earned money, you’ll get a raw deal. That’s why we’ve done our research and looked into a couple of binary option companies. Olymp Trade is one of the brokers who deserve to be called one of the best because of their trustworthiness and high-quality services. Here are a couple of advantages that distinguish this broker. The company’s got good reputation on the internet, it’s been around since 2014 and it’s regulated by International Financial Commission. Plus, each trade is insured for a sum of up to 20 000 USD. There are plenty of other advantages, so, in our opinion, you can trust Olymp Trade.
General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.”
How do I get the knowledge to start trading?
If we talk about Olymp Trade, then it’s perfect for learning everything yourself. The broker’s site has a wide range of free educational materials that are good for learning the basics. Plus, new traders can take part in regular webinars and with a VIP account you’ll get a personal manager. You should also remember that learning to trade is not only about learning the basics. You can also find high-quality educational programs and master some profitable trading strategies.
I want to start trading but I’ve only got 10$…
You don’t need any money to start trading. The first thing you should do is perfect your trading strategy in a special demo account. Not all companies have it but Olymp Trade does. Opening a new account is a matter of several minutes and a couple of clicks. When everything’s ready, you can test your skills and knowledge.
When you start getting stable profit, it’s time to switch to trading real money. 10$ is enough because the minimum trade is worth only 1$. But don’t get carried away after your first wins just like so many newbies did before you. You should remember that it’s best to use no more than 10% of the money in your account per trade. It’ll settle your nerves and you’ll stay the course and in the black.
I don’t have time for trading because of my main job
It’s not a problem in the IT era. You can trade on your phone with a special app. All you need is your phone and internet connection. The rest depends on your trading strategy. Since all binary trading have expiry times, there’s no risk for you to be distracted by someone (you child, colleague or boss). The trade will close automatically. Even if your phone battery is dead, the parameters that you’ve set for your trade won’t change. The Olymp Trade app is available on Google Play. By the way, the app has been downloaded more than 1 million times and has received five stars from 72% of users. The high ratings were acknowledged in 2016 when the company received Best Binary Options Trading Platform award from IAIR GROUP.
What else should I know about Olymp Trade?
- Support is available 24/7 via live chat and phone
- The broker pays the withdrawal fee (you can use Visa and Mastercard, as well as various payment systems, e.g. Skrill, Neteller, Epayments etc)
- Money withdrawal is super-fast. Your order processing will take one day.
- Your money is safe as Olymp Trade is regulated by IFC
- You can join the traders’ community on Facebook, Google plus and YouTube. More than one hundred thousand clients have done it already.
- The company cares about new traders and has created good conditions for them (from educational materials to demo accounts)
- You can develop your own strategy or choose one from the Olymp Trade collection. It’s really helpful when you only start getting into trading.
If it’s not enough, you can always get a VIP account
VIP accounts offer the following extra advantages:
- Assistance of a personal manager who’ll always be there to give you advice.
- Risk-free trades. With them you shouldn’t worry even if you fail a trade. Your account balance won’t actually change. Well, it will if your trade is profitable, of course.
- Increased profitability (up to 90% of profit on six assets is guaranteed)
Unique strategies for advanced traders. Together with your manager you can perfect your strategy for even better results. Or you can choose one of the exclusive strategies available only for VIP accounts.