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FOREX EXCHANGE , OLYMPTRADE Broker Comparison

Do you want to know which is the better broker between FOREX EXCHANGE and OLYMPTRADE ?

In the table below, you can compare the features of FOREX EXCHANGE , OLYMPTRADE side by side to determine the best fit for your needs.

  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
 2  brokers in total
Rating
Score
Regulatory Status
WikiFX Guarantee
WikiFX Survey
Risk Evaluation
Exposure
Official website
Basic Information
Established(years)
Regulatory license
MT4
MT5
Crypto
Deposit and withdrawal method
Benchmark
environment rating
Transaction Speed
Transaction speed rating
Average transaction speed(ms)
The highest transaction speed(ms)
The highest speed of opening positions(ms)
The highest speed of closing position(ms)
Slowest transaction speed(ms)
The lowest speed of opening positions (ms)
The lowest speed of closing position(ms)
Trading slippage
Transaction slippage rating
Average slippage
Maximum transaction slippage
Maximum positive slippage
Maximum negative slippage
Transaction Cost
Transaction cost rating
  • Average transaction cost (USD/Lot)
Rollover Cost
Rollover cost rating
  • Average Rollover Cost (USD/Lot)
Disconnection results
Software disconnection rating
Average disconnection frequency (times/day)
Reconnection time(ms)
Account Information
Account name
Products
Deposit REQ
Maximum Leverage
Spread of majors
Forced Liquidation Ratio
Spread Types
Minimum Position
Crypto
Lock postition
Scalping
EA trading
8.36
Regulated
No guarantee
--
15-20 years
FSA
Supported
Not supported
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--
--
--
--
--
--
--
--
--
--
--
--
--
--
--

--

--

--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
1.68
No Regulation
No guarantee
--
5-10 years
--
Supported
Not supported
--
--
--
--
--
--
--
--
--
--
--
--
--
--
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--

--

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Score
Regulatory Status
Regulated
No Regulation

OLYMPTRADE BrokerRelevant information

FOREX EXCHANGE 、 OLYMPTRADE BrokerRelevant exposure

Which broker is more reliable?

You can determine the reliability and credibility of a broker by checking four factors:

1.Forex broker introduction。

2.Are the transaction costs and expenses of forex-exchange, olymptrade lower?

3.Which broker is safer?

4.Which broker provides better trading platform?

Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:

Forex broker introduction

forex-exchange
FOREX EXCHANGEReview Summary
Founded2004
Registered Country/RegionJapan
RegulationRegulated
Market InstrumentsCurrencies
Demo Account
Leverage/
Spread/
Trading PlatformMT4
Min Deposit/
Customer SupportPhone: 0120-555-729
Email: support@forex-exchange.co.jp
Physical Address: 〒 103-0025Tokyo chuo ward kaya, the nihonbashi 2-1-1 second securities pavilion

FOREX EXCHANGE Information

FOREX EXCHANGE, incorporated in Japan in 2004. Currently regulated by the FSA, it allows traders to trade currency pairs through MT4 and supports free trading fees. But it did not provide specific information about the accounts.

FOREX EXCHANGE Information

Pros and Cons

Pros Cons
Regulated by FOREX EXCHANGENo account details
Support MT4
Transaction fee, stop loss fee and account maintenance fee are 0 yen

Is FOREX EXCHANGE Legit?

Regulated Country/Region
Is FOREX EXCHANGE Legit?
Regulated AuthorityFSA
Regulated EntityFOREX EXCHANGE株式会社
License TypeRetail Forex License
License Number関東財務局長(金商)第293号
Current StatusRegulated
Is FOREX EXCHANGE Legit?

What Can I Trade on FOREX EXCHANGE?

It can mainly trade 25 currencies.

Tradable Instruments Supported
Currencies
Precious metals & Commodities
Indices
Stocks
Bonds
ETF
What Can I Trade on FOREX EXCHANGE?

Account Types

The account opening process is as follows, consisting of four steps. You may refer to:

Account Types

FOREX EXCHANGE Fees

Transaction fee, stop loss fee and account maintenance fee are 0 yen. Deposits of more than 1 billion yen will be charged.

FOREX EXCHANGE Fees

Trading Platform

FOREX EXCHANGE offers MT4 for trading on desktop, mobile and tablet.

Trading PlatformSupported Available Devices Suitable for
MT4Desktop, Mobile, TabletBeginner
MT5
Trading Platform

Deposit and Withdrawal

Withdrawals must be made from the website and can only be made in Japanese yen.

The withdrawal fee is free in principle. For withdrawals of less than 10,000 yen and withdrawals of more than 5 times per month, 540 yen will be charged per withdrawal.

The money will be remitted to your registered financial institution account within 4 working days.

Deposit and Withdrawal

Deposits can be made through regular bank transfers and fast deposits, with no minimum amount limit. Payment in Japanese yen only.

Deposit and Withdrawal

olymptrade
Registered in St. Vincent and the Grenadines
Regulated by No effective regulation at this time
Year(s) of establishment 2-5 years
Trading instruments Information not available
Minimum Initial Deposit Information not available
Maximum Leverage Information not available
Minimum spread Information not available
Trading platform MT4
Deposit and withdrawal method Information not available
Customer Service Email/phone number/address
Fraud Complaints Exposure Yes

Note: At this time, we only have a cursory look at OLYMPTRADE as the company's official website (https://olymptrade.com/ ) does not open properly.

General information

Screenshot time: 01/28/2023

WikiFX provides dynamic scoring, it will track the broker's dynamic real-time scoring, the current time screenshot scores do not represent past and future scoring.

General information and regulations

OLYMPTRADE is registered in St. Vincent and the Grenadines and appears to be a fraudulent broker without any credible regulation, with a history of no more than 5 years. Unfortunately, we could not find any more detailed information about this broker on the internet.

OLYMPTRADE caters to a diverse range of traders, including beginners and experienced traders alike.The platform offers a wide range of financial instruments for trading, including currencies, stocks, metals, indices, commodities, cryptocurrencies, ETFs, OTC, and composites. Traders have the flexibility to choose between two types of accounts: Real Account and Demo Account. The Real Account allows traders to engage in live trading with real money, while the Demo Account provides a risk-free environment for practice. While specific information about spreads is not available on the website, OLYMPTRADE mentions that there are no commissions charged.Traders can access the OLYMPTRADE trading platform via a downloadable application on both mobile and desktop devices. The platform offers a user-friendly interface with various trading tools, features, educational resources, market analysis reports, and customer support services available 24/7.

When choosing a forex broker, you should know that a regulatory license does not necessarily guarantee the reliability of a broker as it may be an expired or cloned regulatory license, but a broker without any regulatory license has a high probability of being unreliable.

Pros and Cons

OLYMPTRADE offers a user-friendly trading platform with a wide range of market instruments, a demo account for practice, comprehensive customer support, and educational resources. However, it is not regulated by a reputable authority, lacks transparency on leverage and spreads, provides limited information on fees and commissions, has a relatively low minimum deposit requirement, and offers limited advanced features. Traders should carefully consider these pros and cons before deciding to trade with OLYMPTRADE.

Pros Cons
User-friendly trading platform with a range of tools and features. Not regulated by a reputable financial authority, which carries higher risk.
Wide selection of market instruments, including currencies, stocks, metals, cryptocurrencies, and more. Lack of transparency regarding leverage and spreads.
Demo account available for practice and learning. Limited information on trading fees and commissions.
Comprehensive customer support available 24/7. Relatively low minimum deposit requirement may attract inexperienced traders.
Educational resources to enhance trading knowledge and skills. Limited availability of advanced trading features and platforms.

Market Intruments

OLYMPTRADE offers a diverse range of market instruments, including currencies, stocks, metals, indices, commodities, cryptocurrencies, ETFs, OTC trading, and composites, providing traders with ample opportunities to engage in various trading strategies.

  1. Currencies: OLYMPTRADE offers a wide range of currency pairs for trading, including major pairs such as EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic pairs like USD/TRY and NZD/CAD. Traders can speculate on the exchange rate movements between these currency pairs.

  2. Stocks: OLYMPTRADE provides access to a variety of stocks from global markets. Traders can invest in individual company stocks, such as Apple, Amazon, or Google, and speculate on their price movements. Stock trading allows traders to benefit from the performance of specific companies.

  3. Metals: OLYMPTRADE allows trading in precious metals like gold, silver, platinum, and palladium. These metals are often seen as safe-haven assets and can be used as a hedge against inflation or economic uncertainties. Traders can speculate on the price fluctuations of these metals.

  4. Indices: OLYMPTRADE offers trading on major stock indices from around the world, including the S&P 500, NASDAQ, FTSE 100, and Nikkei 225. Index trading allows traders to speculate on the overall performance of a specific stock market, rather than individual stocks.

  5. Commodities: OLYMPTRADE provides access to various commodities such as oil, natural gas, and agricultural products like corn and wheat. Commodity trading allows traders to speculate on the price movements of these essential goods, which can be influenced by factors like supply and demand dynamics, weather conditions, and geopolitical events.

  6. Cryptocurrencies: OLYMPTRADE offers trading in popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Ripple. Cryptocurrency trading allows traders to speculate on the price volatility of these digital assets, which have gained significant popularity in recent years.

  7. ETFs (Exchange-Traded Funds): OLYMPTRADE allows trading in ETFs, which are investment funds traded on stock exchanges. These funds are composed of a basket of assets, such as stocks, bonds, or commodities. Traders can invest in ETFs to gain exposure to a diversified portfolio of assets.

  8. OTC (Over-the-Counter): OLYMPTRADE provides over-the-counter trading, which refers to trading financial instruments directly between two parties without the involvement of an exchange. OTC trading allows for more flexible and customized transactions, particularly for certain derivatives and exotic instruments.

  9. Composites: OLYMPTRADE offers composite instruments, which are synthetic assets created by combining multiple financial instruments. These composites can represent various strategies or themes, such as a basket of stocks from a particular sector or a combination of different asset classes. Traders can speculate on the performance of these composites.

market-instruments

Trading platform(s) offered by OLYMPTRADE

Although a long time has passed since the launch of MT4, it is still a major player in the market and is loved by traders all over the world. Accessing it from different devices also makes it easier for users to trade.

plataformas de trading

Account Types

OLYMPTRADE offers two types of accounts: Real Account and Demo Account. The Real Account allows traders to engage in live trading with real money, providing access to the full range of market instruments and features offered by OLYMPTRADE. Traders can deposit funds into their Real Account and trade in real-time market conditions, experiencing the actual risks and rewards of trading.

On the other hand, the Demo Account is a practice account that allows traders to simulate trading without using real money. It is an excellent option for beginners or those who want to test trading strategies and explore the platform's functionalities. The Demo Account provides virtual funds, enabling traders to practice and gain confidence before venturing into live trading.

account-types

How to open an account?

Here is a brief description of the account opening process for OLYMPTRADE:

open-account
  1. Registration: Visit the OLYMPTRADE website and click on the “Register” button to start the registration process. Fill in the required information, such as your name, email address, and preferred password. Make sure to read and agree to the terms and conditions before proceeding.

  2. Account Verification: After completing the registration, you may need to verify your account. OLYMPTRADE may require you to provide certain documents for verification purposes, such as a copy of your identification document (e.g., passport or driver's license) and proof of address (e.g., utility bill or bank statement). Follow the instructions provided by OLYMPTRADE to submit the necessary documents.

  3. Account Funding: Once your account is verified, you can proceed to fund your account. OLYMPTRADE offers various deposit methods, such as credit/debit cards, bank transfers, and electronic payment systems. Choose your preferred payment method and follow the instructions to make a deposit. Be aware of any minimum deposit requirements set by OLYMPTRADE.

  4. Platform Access: Once your account is funded, you will gain access to the OLYMPTRADE trading platform. You can log in using your registered email address and password. The platform provides a user-friendly interface with a range of trading tools and features.

  5. Account Configuration: Before you start trading, you may need to configure your account settings. This includes selecting your preferred language, setting up notifications, and adjusting other platform preferences according to your trading preferences. Take some time to explore the platform and familiarize yourself with its features.

It's important to note that the specific steps and requirements may vary, so it's advisable to refer to the official OLYMPTRADE website or contact their customer support for the most accurate and up-to-date information regarding the account opening process.

Leverage

The official website of OLYMPTRADE does not provide specific information about leverage. However, it is common for similar types of brokers to offer leverage ratios ranging from 100:1 to 500:1. Please note that leverage allows traders to multiply their trading positions, but it also amplifies both potential profits and losses. It is important to fully understand the implications of leverage and exercise responsible risk management when trading on any platform. For accurate and up-to-date information about leverage on OLYMPTRADE, it is recommended to refer to the broker's official website or contact their customer support.

Spreads & Commissions (Trading Fees)

OLYMPTRADE's official website does not provide specific information about spreads. However, it is mentioned that there are no commissions charged. In general, similar brokers in the industry offer spreads that start from 0 to 0.1 pips. Spreads refer to the difference between the bid and ask prices of a financial instrument and can vary depending on market conditions and the specific asset being traded. For accurate and up-to-date information about spreads on OLYMPTRADE, it is recommended to refer to the broker's official website or contact their customer support.

spreads-commission

Deposit & Withdrawal

OLYMPTRADE provides a simple and convenient deposit and withdrawal process for its traders. The minimum deposit amount is 10 USD/10 EUR, making it accessible for traders with varying budgets. OLYMPTRADE supports multiple deposit and withdrawal methods, including Bank Transfer, Credit/Debit Cards, Bank Wire Transfer, E-wallets, and Cryptocurrency.

Traders can choose to deposit funds using popular payment options such as credit or debit cards, bank transfers, and e-wallets.

Similarly, when it comes to withdrawing funds, OLYMPTRADE supports the same methods used for deposits. The withdrawal process is typically straightforward, and the platform strives to process withdrawal requests promptly. However, the processing time may vary depending on the chosen withdrawal method and the policies of the respective financial institutions involved.

deposit-withdrawal
deposit-withdrawal

Customer support

The support service provided by OLYMPTRADE is not very extensive. It can only be accessed via email, address and a phone number. Since the company's website is not currently open, we do not know if it offers other services such as live chat, callback, FAQ, 24/7 or 24/5 service, etc.

Below are the details about the customer service.

Email: support@olymptrade.com

support-en@olymptrade.com

Phone Number: +356 20341634

Address: 54, Immakulata, Triq il-Mina ta Hompesch, ZABBAR ZBR 9016.

Users exposures

On our website, you can see that many users have reported scams. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

users' exposure

Conclusion

OLYMPTRADE is an online trading platform that caters to a diverse range of traders, offering a wide selection of market instruments and account types. The platform provides a user-friendly interface, downloadable on mobile and desktop devices, with access to real-time market quotes, trading tools, and educational resources. However, it is important to note that OLYMPTRADE is not regulated by a reputable financial authority, which poses a higher risk for traders. The platform lacks transparency on leverage and spreads, limited information on fees and commissions, and advanced features. Traders should carefully evaluate these pros and cons before deciding to trade with OLYMPTRADE. While OLYMPTRADE offers convenience and comprehensive customer support, traders should exercise caution and conduct thorough research before opening an account.

FAQs

Q: Is OLYMPTRADE a regulated broker?

A: No, OLYMPTRADE is not a regulated broker.

Q: What is the minimum deposit required to open an account with OLYMPTRADE?

A: The minimum deposit required to open an account with OLYMPTRADE is 10 USD/10 EUR.

Q: What trading instruments are available at OLYMPTRADE?

A: OLYMPTRADE offers a wide range of trading instruments, including currencies, stocks, metals, indices, commodities, cryptocurrencies, ETFs, OTC trading, and composites

Q: Does OLYMPTRADE offer a demo account?

A: Yes, OLYMPTRADE offers a demo account that allows clients to practice trading in a risk-free environment with virtual funds.

Q: What trading platforms does OLYMPTRADE offer?

A: OLYMPTRADE offers their our trading platform.

Are the transaction costs and expenses of forex-exchange, olymptrade lower?

To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).

To get a comprehensive understanding of how cheap or expensive forex-exchange and olymptrade are, we first considered common fees for standard accounts. On forex-exchange, the average spread for the EUR/USD currency pair is -- pips, while on olymptrade the spread is --.

Which broker between forex-exchange, olymptrade is safer?

To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.

forex-exchange is regulated by FSA. olymptrade is regulated by --.

Which broker between forex-exchange, olymptrade provides better trading platform?

When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.

forex-exchange provides trading platform including -- and trading variety including --. olymptrade provides trading platform including -- and trading variety including --.

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