How to trade digital options using the Olymp Trade platform

How to trade digital options using the Olymp Trade platform
How to trade digital options using the Olymp Trade platform

How to trade digital options using the Olymp Trade platform Olymp Trade is one of the best options brokers out there. It has a large number of available instruments, a great design, many analysis tools, and a variety of features. You can use it via web browser and mobile app, and simply log in to your Olymp Trade account from anywhere.

Use a demo account to get the most out of this guide.

Why choose a demo account at first?

This way you will not lose money if you make a bad trade. Those accounts are also great for testing strategies and monitoring market movements.

How to trade on the Olymp Trade platform?

First of all, you need to log in to your account. You will then be able to see a trading chart showing price fluctuations. The available chart types are Japanese candlestick charts and area charts. You can also take advantage of technical indicators and technical analysis tools that can be found at the top left of your trading interface. Next, you need to choose the asset pair you would like to trade. There are over 70 to choose from. You can opt for forex, cryptocurrencies, commodities, indices, and exchange-traded stocks. You will also be able to see the potential profit before finalizing the trade.

Once done, choose the holding period and funds you would like to put into the trade. You can choose between $10 and $5000. Do not exceed 5% of your total amount.

At the end, go to the ‘up’ or ‘down’ buttons to make a price movement prediction. Analyze the market beforehand and choose carefully.

Possible results

You can win and get a return of up to 80% for standard accounts and up to 92% for VIP accounts, or lose the money invested.

How do you increase the chances of winning?

The platform has a clean design and offers many tools to help you make a profit. You can minimize your losses by following these tips.

  • Get 2 or 3 pairs to trade at first. This way it would be easier to monitor them for a long time. After you have gained some experience, you can add more.
  • Choose a good strategy and use it. Depending on how volatile the market is, you need to choose a suitable strategy.
  • The platform provides many analysis tools and indicators. Use them to monitor fluctuations and make correct predictions.
  • Manage your money and never put more than 5% on 1 trade.
  • There are many learning resources that you should study.

You must remember that options trading is risky. Using the platform can minimize losses.