Six Safety Principles for Protecting Olymp Traders: Trade Responsibly!
KNOW HOW OLYMP TRADE HELPS TRADERS LIMIT RISKS FOR MAXIMUM PROFIT.
Olymp Trade now has millions of registered user accounts worldwide. Everyday, thousands of traders look forward to make profits by using the trading platform. As a company that is determined to help ALL TRADERS achieve financial prosperity anywhere across the world, there must be ways to prevent RECKLESS TRADING with HIGH RISK for LOSSES.
Unlike many other brokers who want to take ALL your money quickly; Olymp Trade imposes some SAFETY RULES to limit the risk of traders losing their money. It is only when traders make profits that their investment capital can grow and surely, more PROFITS will lead to MORE TRADING by HAPPY TRADERS.
Because many traders are not used to this SAFETY RULES, some traders get angry when the Olymp Trade platform enforces the DAILY and VOLUME LIMITS. Therefore, it is important that Olymp Traders understand the need for the following SIX SAFETY PRINCIPLES which are aimed to protect traders’ money.
1. Responsible Brokers promote Responsible Trading!
Olymp Trade cares and surely wants ALL TRADERS to TRADE RESPONSIBLY by avoiding high risk trading habits that can make you poorer instead of making profits for a better life.
2. Obeying International Financial Laws promotes Global Trust and Transparency without risking Catastrophic Ban or Adverse Claims through Legal Actions against the Company
In addition, Olymp Trade strictly follows the international Anti Money Laundry laws, carefully enforced by encouraging ALL CLIENTS to verify their identity. Users are asked to provide scanned copies of their IDs and proof of residence after their registration on the Olymp Trade platform. After successful verification, traders can enjoy unlimited trading, fast deposit and easy withdrawals without limitations.
3. Helping starters and unprofessional traders to “LEARN FIRST” to develop risk management habits like expert traders guarantees more profitable and happy Olymp Trade clients.
According to Warren Buffet, “The greatest risk is in not knowing what you are doing”. To limit the highest risk of IGNORANCE, Olymp Trade provides the best, easy to understand educational materials, both on a special website and within the trading app directly.
The aim is to help new Starter Traders to learn how to trade using technical and fundamental analysis, how to develop trading strategies and apply them to in different market conditions. Olymp Trade Tutorial also provides up-to-date short trading videos on their YouTube channel which includes tips and advice on how to traders can master their emotions and limit risks through money management principles.
4. Maximum Trade Volume limits number of trades that can be opened simultaneously on the Olymp Trade Platform
In addition, Olymp Trade enforces trade volume limits at different levels of Trader Status (i.e. Starter level, Advanced level and Expert level). The trade volume limits are meant to help traders develop self-control and self-discipline gradually till it becomes a trading habit like experts. On the Olymp Trade platform, there is a maximum number of trades that can be opened simultaneously by traders. This is to help clients avoid the sad reality of reckless trading which can lead to unfortunate loss of capital due to overtrading.
For the Starter status, Olymp Trade users can only open up to 20 trades simultaneously. This keeps new market players from overtrading, allows some time for careful analysis and serves a protective measure from accidental trades due to misuse of the platform functionality.
Once the trader gets more experience and moves on to the Advanced Status, the number of simultaneously allowed trades doubles to 40 trades. However, Expert Status allows traders to have up to 60 simultaneous trades opened, which is very rare. This is because Expert Traders operate based on the Safety Rule tagged “Trade Responsibly!”
5. Maximum Trade Amount for a single trade on the Olymp Trade Platform
Many traders believe that all brokers just want their clients to lose their capital. This may be true for some brokers but Olymp Trade only makes money from commissions paid by traders and not interested in the loss of client’s trading capital. If it was not so, it would have never limited the maximum volume of trade for the customers.
In accordance with Trader Way statuses system, Olymp Trade also restricted Starters to risk not more than $2000 in a single trade. The maximum trade value increases as users get more experience. Therefore, the overall maximum value that can be invested in a single trade by Expert Traders is $5,000 in the Fixed Time trading mode while that of Forex is $4,000
This limitation is a safety measure that will not allow traders to lose extremely large amounts of money with a single trade. When entering the risk amount in the according field, a trader can make a manual mistake, a keyboard button may get sticky. Trading in Olymp Trade platform users are protected from losing all the deposited funds by mistake due to these trading volume limitations.
6. Apply The Safety Rule: Trade Responsibly!
Keeping the traders from overtrading, reducing the risks and establishing a safe environment for traders is one of the key priorities of Olymp Trade. The platform monitors each account for suspicious and excessively risky activity and puts on temporary limitations on trading Olymp Trade if such activity was noticed.
The broker does not want its customers to lose all their money in one day, therefore the accounts that have been noticed to demonstrate a critical level of insecure trading may get frozen temporarily. Riskin too much in a single trade or executing too many trades at a time may be the possible reasons that pushes Olymp Trade live account to it’s limit.
This practice has helped many traders to overcome their difficulties, get more organized and disciplined in their trading. It also protects customers’ funds from accidental but fatal for account balance mistakes.
This practice has helped many Olymp Trade customers to overcome their difficulties, get more organized and disciplined. It also protects customers’ funds from accidental mistakes that can occur by pressing the wrong buttons thereby putting their account balance in danger.
