Is Olymp Trade Legit in Kenya?

Make Money With Olymp Trade in Kenya

Olymp Trade is a fixed time trading platform that offers a variety of investment opportunities. They offer two types of trades, one where the investor predicts whether the price will be higher or lower at the end of an allotted time period and another where they predict whether it will go above or below a predetermined level.

Investors can also invest in cross-rates which allow them to trade currencies against each other. Olymp Trade’s impressive success rate has made it one of the most popular fixed time trading platforms in Kenya with over 1 million users from around the country.

Olymp Trade Main Features

Olymp Trade Minimum Deposit
$10
Maximum Leverage
1:500
Trading Platform
MT4
Account Currency
EUR, USD
Maximum Leverage
1:500
Instruments
Forex, cryptocurrencies, stocks, indices, commodities

Since Olymp Trade uses the MT4 trading platform, it makes it easy for beginner traders to master the one platform that’s used by 99% of forex brokers around the world. Graduating from Olymp Trade to another broker will be hassle-free.

Why Choose Olymp Trade?

Olymp Trade offers traders access to over 500 assets with returns up to 90%. The company is well-regarded for its transparency, reliability, and safety – it is fully licensed and regulated by the International Financial Commission (FinaCome).

Trading on Olymp Trade can be done anytime from anywhere through their mobile app or web browser with instant transfers via Visa or Mastercard between registered accounts.

We like the fact that Olymp Trade is licensed and regulated by FinaCom, In case of a dispute between the broker and a client, FinaCom offers compensation up to $20,000 if the dispute is settled in favor of the client.

Advantages of Trading With Olymp Trade

  • Easy and convenient trading platform
  • Low minimum deposit of $10 only
  • Mpesa deposits and withdrawals available

Disadvantages of Olymp Trade

  • it is regulated under a jurisdiction widely seen as an offshore haven

How to Trase With Olymp Trade in Kenya

Olymp Trade is a fixed time trading platform, which means that you make money when trading. There are a more than 150 assets that you can trade including currencies, stocks of leading Fortune 500 Companies, Cryptocurrencies, and Commodities such as copper and sugar.

Before you start panicking, here’s the good part about trading on Olymp Trade. You do not have to own any of these assets in order to trade. Instead, what you do is speculate on whether the price of an asset will go up or down within a specified period, starting with a minute all the way to 30 days.

If your speculation on the direction of price is correct, Olymp Trade will pay you a profit up to 92% depending on the asset you were trading.

News Trading

Is Olymp trade good for trading
The Forex Factory Economic Calendar Can Help Your Trading

Trading based on news events can be a great way to make profits on the Olymp Trade platform. The key to success is staying informed about the latest developments in the markets and understanding how they may impact the prices of the financial instruments you are trading.

To predict the direction an asset’s price is likely to go in the near future, traders use a variety of tools including global economic news.

For instance, every first Friday of the month, the United States announces what’s known as the Non-Farm Payroll (NFP). The announcement usually has a very big impact on the price of financial instruments, and is usually a good time to trade.

Trading news is especially a good strategy for beginners who might not be very skillful at technical and/or price action. You should consider using an economic news calendar such as the one available at Forex Factory to spot major events around the world and how they are likely to affect assets.

There are also economic news calendar apps available on the Play Store and iOS store. Simply go to the apps store and search for “economic calendar.” Checking whether there’s any impactful news before you place a trade is a good way to trade on Olymp Trade.

Does Olymp Trade Work in Kenya?

Yes. Olymp Trade works in Kenya. There are many remarkable success stories of Kenyans who use Olymp Trade to make money to an extent of replacing their day jobs with trading on Olymp Trade.

However, like every other career, success does not come easy. You’ll have to invest hours and energy to learn how trading on Olymp Trade works. Once you’ve mastered the art and science of trading you can start investing and make money on Olymp Trade.

We highly recommend Olymp Trade to traders of all levels as the trading platform is incredibly easy to use and comes with $10,000 virtual currency that you can use to test your trading skills and strategies. Click Here to Open an Account.

5 Reasons Why Traders in Kenya Should Choose Olymp Trade

  1. Demo Trading: Upon registration, you’ll gain access to a free $10,000 demo account that you can use to learn how the platform works or test out your new fixed time trading strategies. That’s a plus for us.
  2. Licensed and Regulated by FinaCom: The International Financial Commission (FinaCom) is a third party and neutral regulatory authority that oversees forex brokers and settles any disputes between traders and brokers. Olymp Trade became a member of FinaCom in 2016, which shows their dedication to operating above board. While FinaCom is not in the same league with other regulatory authorities such as ASIC or CySec, we hope that we’ll be seeing Olymp get more trade licenses in the future.
  3. Robust Trading Platform & MT4 Available: Olymp Trade comes with a comprehensive proprietary trading platform that let’s you place and manage your trades with ease. The platform is loaded with a number of technical analysis tools. And as if that’s not enough, Olymp trade also supports MT4 for traders who prefer it.
  4. Low Minimum Deposit $ Trade Size: If you’re a beginner trader, you might not have a lot of money to invest or you might want to start by only investing a small amount of your money to ‘test the waters.’ Olymp Trade has a $10 minimum deposit (approximately 1,000 Kenya Shillings). Additionally, Olymp Trade lets you place trades with as low as $1.
  5. Handy Android & iOS Mobile Apps: Olymp Trade is probably the only forex broker with a fully developed and intuitive mobile app for both Android and iOS. For beginners who might not have trading stations, the mobile app is the only thing you’ll need to start making money with Olymp Trade. For professional traders, the app allows you to keep track of your open positions when you’re on the go.

Can Olymp Trade Make you Rich?

Can Olymp trade make you rich

Yes. You can make a lot of money on Olymp Trade. The platform rewards traders with up to 92% profit on every trade. For example, placing a trade with $100 will give you $192 profit if your trade goes right.

However, the amount of money you can make on Olymp Trade depends on your trading skills and invested capital.

Without taking time to come up with a solid trading strategy, you’ll probably lose all your invested capital. Before you start trading with your hard earned money, make sure you’ve taken time to not only learn, but also test out your trading strategy on the demo account.

Does Olymp Trade Accept Mpesa?

does olymp trade accept mpesa

Olymp Trade fully accepts Mpesa. That means you can easily fund and withdraw profits from your account using Mpesa.

Olymp Trade also supports other alternative deposit and withdrawal methods including bank cards, Skrill, Neteller and Cryptocurrencies (Bitcoin, Ethereum, and Tether.)

The easiest way to fund your Olymp Trade account is to use your Mpesa or bank card. We have had success using the NCBA Loop Card and the I&M Prepaid Multicurrency Card. but our absolute favorite is the NCBA Loop Card as you can fund it easily using Mpesa and also withdraw money from it to Mpesa instantly.

Helpful Olymp Trade Tips & Tricks

  1. Verify Your Account Before You Deposit: Like every other financial services broker, Olymp Trade is required by the industry regulators to verify that their customers (you) are who they say they are. The verification usually entails you uploading your National ID, Proof of ID, and a selfie-photo. To avoid hitches after you’ve deposited money, make sure to verify your account the moment you sign up.

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About the Author | Patrick Mahinge

Patrick Mahinge is a full time forex trader, money manager, and consultant to major financial funds. At only 35 years old he is widely considered an up and rising star in the forex trading community and is known for his simple time proven techniques.Since the founding of KenyaForexFirm.com in 2014, his forecasts have been uncannily accurate and his subscribers have reaped the benefits. KenyaForexFirm.com is Patrick's attempt to share his wisdom and knowledge about Forex Trading so traders can see through the clutter and get straight to the core of profitable trading.

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6 thoughts on “Is Olymp Trade Legit in Kenya?”

  1. thanks so much,my prayer to be all successful in everything and some one to donate a car for me —even second hand/oldest car i will accept –you will be blessed.thanks

    Reply
  2. I have invested with some scam brokers in the past, and the story is as horrific as the ones i have read because i went through the ordeal myself. I lost almost $80,000 USD to this unfortunate brokers, a friend referred me to Mr Patrick Mahinge that got me 80% of my money back, plus my accrued bonuses. Please stay clear of these scammers and if you have lost money you can still get your money back if you really want to.

    Reply
  3. I’ve tried news trading at olymp trade several times but it seems to it’s not very consistent. Because sometimes the actual data is good for a certain economy however the currency of this economy gets weaken. Plus the price is jumping like crazy which makes it hard to stay calm.
    So I decided that the best strategy would be to stay away from the trading platform when the news is released.

    Reply
  4. Unfortunately i was lost but it seems today i find an answer to all my questions but no money to start… Oooh nooo but if one or the company in Kenya please iwanna see someone to teach me step by step day to night atleast wanna ne smart…. Remember im a slow learner..

    Reply