Investor alert! RBI says forex trading on these 34 platforms is illegal

In the demo account, the virtual account balance of £10,000 allows you to trade in a virtual environment. Whatever the features you’ll use in the premium accounts, you can get a glimpse of every pinpoint at the demo account. If you love putting your smart strategies while trading and always prefer multiple trading options, then Olymp Trade will surely be made for you. Ensure that the platform can close your account if you haven’t maintained a sufficient balance in your account.

Olymp Trade Regulation or Licensing

The entities in the alert list are neither authorised to deal in forex under the Foreign Exchange Management Act, 1999 (FEMA) nor authorised to operate electronic trading platforms for forex transactions. To sign up and start trading with Olymp Trade account, you must provide your name, a phone number and email address. Once all of the required information is entered, you can start practising with your demo trading account. Deposits can be made quickly and easily through one of For a VIP account, you must deposit the required amount (approximately $2000). VIP account traders are given higher payout rates, forex trade multipliers, as well as the ability to make risk-free trades. Besides this, the Olymp Trade website provides users with a free demo account and allows them to practice their strategies which can be implemented whilst doing real-time trading.

Regular Quickler trader who is doing 98% of trades

Over time, the platform has earned a high status in the online trading marketplace. Instead, traders have a Sale Success Fee they pay if only an SPT position is closed with a profit. Therefore, the financial side of the new mechanic is also designed in favor of traders. The newly announced service eliminated minimum trade amounts, and instead, replaced it with SPT unit price equals the underlying stock’s price. The stock price range is very wide and allows any trader to find an SPT that matches their price targets. On evaluating suggestions and feedback from the client, Olymp Trade witnessed a demand for simple, straightforward, and new trading mechanics.

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You can choose between standard to VIP trading account to start trade. It has been in the market of online trading for over 6 years and earned the trust of millions of traders worldwide. Olymp Trade is committed to providing transparent, reliable service, and paying close attention to client requests. Before investing your money, don’t forget to try a couple of strategies to determine what suits your goals and trading style best and thus minimise mistakes. Olymp Trade created its free educational material and built-in automated assistant, keeping the new traders in mind.

Olymp Trade Features

Overall, Stock Price Trades is a truly user-oriented trade mechanic. It may be a primary trade mechanic for those who want to invest long-term in a relaxed manner. At the same time, it may very well complement other mechanics offered by Olymp Trade and serve as a diversification element. Stock Price Trades offers traders a choice of more than 60 stocks to trade which includes internationally famous corporate giants as well as public companies that represent very specific market sectors. The company has been a Category A member of the Financial Commission since February 2016, which guarantees traders reliable service and the protection of their rights. According to a 4 February Mint report, RBI had noticed that these platforms offered a derivative product called contracts for differences (CFD) during the lockdown period.

Virtual Trading Account or Demo Account

Many people have lost money by trading with the unauthorised platforms, the RBI adds. Some of these platforms also claim to be regulated by overseas regulators and recipients of global awards, it had added. All these plus points draw trader’s attention towards the online trading broker. With a plethora of trading options and services, the platform is on the rise in the market.

• In the demo account, the virtual account balance of £10,000 allows you to trade in a virtual environment.
• The platform is famous for its loyalty and high-end efforts that satisfy its clients a lot.
• Traders can later enable their real accounts and start trading practices with their own money.
• It should be noted that there is a full economic calendar on the Olymp Trade platform, so no important news can be missed.
• The demo account by Olymp Trade is a complete copy of the premium account.
• He attended a high-profile dinner with Taiwanese tech leaders and was a guest of honor at the World Masters Games opening ceremony.

Olymp Trade – Conclusion

Forex mode on the Olymp Trade platform attracts users with its usability, a simple mechanism of placing the orders to fix the profit (take profit) or limit the loss (stop loss). The platform uses high-end encryption, which provides full protection to the user’s data. Every market follows a varying timeframe and you Olymp Trade India may find yourself restricted to invest in your favorite asset.

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The minimal deposit amount is $10 (or €10, if that’s the account currency), and one needs as little as $1 to open a trade. Notably, London-based OctaFX, which the RBI says is not authorised to deal in forex, was also one of the official sponsors of the Delhi Capitals team in the Indian Premier League (IPL) this year, say media reports. Ads of many such platforms can also often be seen on popular social media platforms including YouTube.

• The risks of using this instrument are strictly limited, which prevents traders from getting a negative result like losing a larger amount than that of the investment.
• It is a perfect solution for those who enjoy getting predictable financial results.
• Apart from educational tools, Olymp Trade comes with a plethora of features.
• Fixed Time Trade trading involves buying or selling a contract before a certain date (expiration) and getting specified returns.
• Here, you can confidently invest your hard-earned money and secure a highly profitable position.
• Various methods of investing can be used on Olymp Trading which keeps new traders from making uninformed decisions.
• Investment is seen as one of the best hobbies, as it allows you to take advantage of the most traded financial market in the world, using the simplest trading instrument.

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Also, the market situation can influence the fee structure set by the broker. You can go with it even though you are an Android phone user or iOS user. Just visit the mobile app store and download the Olymp Trade app.

Why Beginners Should Choose Olymp Trade: Benefits of Olymp Trade

The trader can also place an order and get a position opened only after the specific conditions have been met, like the time and the asset price. “Resident persons undertaking forex transactions for purposes other than those permitted under the FEMA or on ETPs not authorised by the RBI shall render themselves liable for legal action under the FEMA,” it added. Perhaps it’s a helpful thing for beginners, but it isn’t for expert traders who have significant capital to invest in. For traders, trading on this platform becomes much easier as this entire platform is easy to navigate. Every option is well-organized that delivers easiness in the trading activities.

• To sign up and start trading with Olymp Trade account, you must provide your name, a phone number and email address.
• Olymp Trade mobile apps have the same atmosphere of active trading and can become an essential part of a trader’s career.
• In terms of deals and promotions, users can get a 50% bonus on their initial deposit.
• According to a 4 February Mint report, RBI had noticed that these platforms offered a derivative product called contracts for differences (CFD) during the lockdown period.
• Pensions to persons suffering from cancer, tuberculosis and leprosy.
• Besides this, the Olymp Trade website provides users with a free demo account and allows them to practice their strategies which can be implemented whilst doing real-time trading.
• Check the score based on the company’s fundamentals, solvency, growth, risk & ownership to decide the right stocks.
• Olymp Trade is a platform focused on making trading accessible to all.
• The video tutorials, webinars, and interactive courses are some of the best things you get with this online broker.

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This online broker allows you to put your strategy into execution that often surprises you when you draw profitable outcomes. If you’ve never stepped into a fully digital trading platform, it’s the best way to move on. Copyright © 2025 FactSet Research Systems Inc.© 2025 TradingView, Inc. Olymp Trade has announced an introduction of a service levels system. In the first iteration, the company traders will receive Starter, Advanced, or Expert statuses.

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Practising on different types of trading and money management strategies will help you become comfortable with them before risking your money. Trading the difference in currency rates, metals or crypto assets value us like traditional commerce. It should be noted in the forex market, you can open a short position (when you expect the asset to go down in value) and profit from the decline of the quotes.

Others are i-Stream (operated by ICAP IL Indian Pvt Ltd), TEX/SEP and 360TGTX (operated by Three Sixty Trading Networks (India) Pvt. Ltd), FXall and Matching (operated by Refinitiv India Transaction Services Pvt. Ltd.) and BTBS (operated by Bloomberg Tradebook Singapore Pte Ltd.). Top10stockbroker.com & Indianfranchisereview.com are websites under Medmonx Enterprises Private Limited. We are certified stock broker review & comparison website working with multiple partners. With the help of these consultants, you can enjoy profitable results. The additional benefits included in a VIP account are truly unbelievable.

• The price chart can be presented as Japanese candlesticks, bars, HeikinAshi candles or a line chart.
• In February this year, RBI had warned people against trading forex on unauthorized platforms following growing reports of people falling prey to such entities.
• The Olymp Trade makes sure that every visitor on this fantastic online trading platform doesn’t encounter any confusion.
• Instead, traders have a Sale Success Fee they pay if only an SPT position is closed with a profit.
• So make sure you’re choosing the same mode of payment while depositing and withdrawing the money.
• Notably, London-based OctaFX, which the RBI says is not authorised to deal in forex, was also one of the official sponsors of the Delhi Capitals team in the Indian Premier League (IPL) this year, say media reports.
• Get to know where the market bulls are investing to identify the right stocks.
• Still, trading with a VIP trading account is more profitable but requires a relatively high minimum deposit amount.

Olymp Trade Safety & Security

CFD is an arrangement made in financial derivatives trading where the differences in the settlement between the open and closing trade prices are cash-settled. Apart from educational tools, Olymp Trade comes with a plethora of features. The platform guides and encourages new users through recommendations. Surprisingly, Olymp Trade offers attractive deals and bonuses for its clients from time to time. In terms of deals and promotions, users can get a 50% bonus on their initial deposit.

If you’re opting for a bank transfer, you may have to wait for a few hours or an entire day. It’ll be best for new traders to skip this point if you haven’t yet grasped the vital information related to leverage. You’ll have to pay off a significant fee if you want to trade overnight. Apart from this, the platform also charges a subscription fee and inactivity fee.

• These markets are helping people around the world in making their lives sustainable.
• Trading the difference in currency rates, metals or crypto assets value us like traditional commerce.
• That’s why you can also trust this online trading platform easily.
• Also, the market situation can influence the fee structure set by the broker.
• With a plethora of trading options and services, the platform is on the rise in the market.

It is also crucial to point out that the value of spreads can rise or fall as the market conditions go up and down. However, you can also assume it a small trading tool that you’ll be carrying for all time in your pocket. Whenever you wish to make a well-informed decision, this app will always assist you. If you have a question you can always find the answer through the automated assistant or a help centre.

Most Searched Stocks

Traders desired to experience a wide range of financial instruments offered under genuinely user-oriented terms. Respecting the recommendations of the users, the trading app introduced the Stock Price Trade service. There are trading strategies, workshops and webinars from the company’s analysts for traders of all levels in the “Education” section of the platform. It should be noted that there is a full economic calendar on the Olymp Trade platform, so no important news can be missed.