I Could never withdraw from olymptrade, there was always some problems
āNeverā sounds a bit strange. LIke if youāve tried withdrawing, then traded more and again tried wihdrawing and againā¦ LOL
I do not think this is possible at all. Olymp Trade is FinaCom regulated, so you can submit a complain and get compensated in case there is a real issue there.
In any case my history of trading with Olymp Trade is different. I have never encountered anything like that. And I donāt know of any trader who has come across anything similar.
Hey, guys, what platform is better, MT4 or Olymp Trade? Iāve deposited $10 and now Iām trading with web platform, but maybe MT4 is better?
That depends on your trading style actually, both platforms have unique pros and cons.
It would be nice if you can create your trading account with them. It is the only way of finding out if it is worth your time or not.
I just wanna pracitce trading, I don't think I have developed trading style yet...
But Iāve read so much reviews like āFinally, Olymp has launched MT4ā, that Iāve doubts about which platform to chooseā¦
Perhaps you are right. Iām not gonna find out if I donāt try.
Actually, MT4 is more powerfull platform. It offers EAs, a lot of indicators and you can even launch your own EAs (if you know codding a little bit). Olymp Trade platform is much easier and itās aimed at ācommon tradersā not on a professional ones. So it offers much less functions, but otherwise itās more native, so itās easier to trade with.
Taking in account youāre beginner, I think Olymp is better platform, you can switch to MT4 in any time, but now itās better to trade with Olymp platform.
Thanks once again for detailed answer! =)
I always feel like Iām asking sth extremely banal, but hope thatās okey =) Whern it comes to money, its better to doublecheck and hear some opinions.
Iāve tried MT4 but it looks so complicated. I would trade with OT now, as you suggested, it looks much better =)
I think Olymp trade is not so safe. For keeping risks low, you can try out trio strategy - it is one of the trading defense strategies.
it took me 3 days to withdrawal my money hahah totally not worth it
It happens sometimes. Depends on your withdrawal type and on your payment system. Olymp Trade processes withdrawals authomatically (=instantly), but it can be manually moderated if Olymp has a suspicion that something is wrong with your account (to protect you from fraudelent activity). Or the money may take a long time to process in the payment system. So I don't think the problem is with Olymp Trade. I usually get my money within 1-2 days but once there was the same problem with Skrill and I had to wait 3 days.
Well, trading isnāt the safe place at all, hah.
But I donāt think that depends on brokerage company, just the reality of trading business - you always face risks and thatās okey.
I donāt think that trio is the best strategy to reduce the risks, itās defensive, but can provoke fake signals. Itās good for beginners, but professional traders donāt use it, because of its shortcomings.
Almost all strategies has its shortcomings, but if you would practice on demo - you would filter signals, theyāre quite visible, RSI helps to filter them, when there is no well-defined trend, averages will cross continually, I think you just need to donāt hurry, to filter the false signals.
Maybe youāre right =)
Also, a lot depends on the timeframe that youāre using for trading. But it still works when the market isnāt highly volatile, youāre right. But when the market is volatile, you simply have no time to wait and filter fake signals.
Thatās also true =)
Thatās why Iām always suggesting to trade on longer timeframes.
What do you mean by timeframe? If thatās a chart time frame, then I canāt agree - the shorter - the better, imo!
Yeah, Iām talking about chart timeframe. It doesnāt work so, at least not always.
If youāre professional trader that daytrades or even use scalping, thatās right for you. But I was speaking about beginner traders and I hope you agree, that trading with short timeframe can make beginner trader to get exhauted too fast.
Iām scalping, hah.
If related to beginners - youāre 100% right, but professionals always check different timeframes, but choose the shortest timeframe as the main one, imo.
For every trader, a different forex broker works. Just because a broker suits your friendās requirements doesnāt mean that it will suit your requirements as well. You will have to do your learning and testing to ensure that the broker is suitable for you and you can trust it with your money.