How can I open account?
There are two ways to open an account.
1.) The first is the Demo account, which provides you with access to the trading platform with real time price feeds but with a notional amount of money.
2.) The second is the Live Account. This allows you to open an account with real money to start trading straight away. You simply choose the account type that best suits you, complete the online registration and you are set to go. We advise you to read the risk disclosure, customer agreement and terms of business before you start trading.
In both cases you can find the Demo account or Live account opening details under the account type tab at the top of the page or to the right by clicking the Open Live Account button or the Demo Account button.
Do I have to provide any documents to OlympusFx to open an account?
We need at least two documents to accept you as an individual client.
1.) A National ID card, Passport, Driving License (or any other valid ID with your name and photo)
2.) A utility bill or a bank statement that has been issued within the last 3 months, with the address matching the address in your trading account.
You need to scan your documents and forward them to us. Your documents will be checked by the verifications department within 30days. However, you will not be able to make money withdrawals before your account is verified.
What leverage is applied to my account?
Leverage available for OlympusFx trading accounts is up to 500:1 depending on the account type.
What are the minimum trading volumes?
The minimum trading volumes will depend on the account opened. However, the minimum trade size we accept is 0.01.
What are the additional fees?
There are no additional Fees.
Where do you get your prices from?
OlympusFX clients have the ability to execute trades directly from real time streaming quotes, provided by the largest liquidity providers in the Forex market. Quotes are updated in real time.
When does the market open?
A true 24-hour market, Forex trading begins each day in Sydney, and moves around the globe as the business day begins in each financial center, first to Tokyo, then London, and New York. Unlike any other financial market, investors can respond to currency fluctuations caused by economic, social and political events at the time they occur - day or night. The market is open 24/5.
What does it mean to be long or short a position?
If you're buying some currency, you're opening a 'long' position, if selling - 'short'. For example, if you buy 1 lot of EUR/USD, it means you open long position for 100,000 of EUR against USD. And if you sell 10 lots of USD/CAD that means you open short position for 1 mil of USD versus CAD.
How do I manage my risk?
The most common risk management tools in Forex trading are the limit order and the stop loss order. A limit order places restriction on the maximum price to be paid or the minimum price to be received. A stop loss order sets a particular position to be automatically liquidated at a predetermined price in order to limit potential losses should the market move against an investor's position.
Do you allow Scalping?
Yes, we do allow Scalping.
How many accounts can I open with you?
We may open up to 10 accounts per individual, irrespective of the base currency used. If you have reasons to apply for additional accounts, please email us your request at firstname.lastname@example.org
The platform fails to connect to the server. What should I do?
If you see the "No connection” message in the status line in the bottom right corner, please:
1. Close the platform and restart it.
2. Check your Internet connection. There might be a problem with your internet provider.
3. Left-click on the “No connection” message and select “Rescan servers” from the appeared menu.
4. Contact the Technical Support service using the contacts at the official website, and check if there are any problems with the main server at the moment, or you are the only person with this problem.
5. Make sure that your PC programs do not block connection to our server. Turn off firewalls, anti-virus software etc.
6. If the server is OK, and the actions described above did not help, delete the trading platform and reinstall it.