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Olympius Global Review - is it scam or safe?

Olympius Global Review - is olympiusglobal.com scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz Olympius Global
Olympius Global is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account Min. deposit Max. leverage Spread
Standard  EUR250 1:500 3 pips fixed

  

Olympius Global is a forex and CFD brokerage that hasn’t shared any information about the company that runs it, nor about the costs of trading, and the account types it offers. This review will shade some light on the broker's service, so make sure you read it prior to investing any money. 

 

 

Olympius Global Advantages

 

Generous leverage

One of the few advantages of this broker is the fact that it offers leverage of up to 1:500, which is more than enough for any trading strategy. That said, bear in mind that trading with high leverage does not guarantee better results – in fact, most newbies lose more than they have deposited this way.

 

Solid selection of assets

It seems that Olympius Global’s offer is quite broad in terms of tradeable assets, and that is another plus. The broker offers trading in many currency pairs, as well as various CFDs - on indices, commodities, precious metals, and stocks. This allows for portfolio diversification which helps manage risk.

 

 

Olympius Global Disadvantages

 

Anonymous and unregulated broker

As we mentioned in the beginning, Olympius Global’s website is actually not very informative. It does not feature much information about the entity behind the brand, other than a contact number with a UK country code.  There is no address, nor any company name mentioned. This is a sign of trouble because traders who have fallen victim to a scam perpetrated by anonymous brokerages have very limited legal options afterwards. 

We remind readers that anonymity is a big issue in forex trading since the people operating such brokers answer to no known authority which leaves them free to conduct business as they see fit.

 

Blacklisted by the CNMV, related to another shady broker

Furthermore, we found out that Olympius Global was blacklisted as a potential scammer by Spain’s financial regulator, the CNMV, and this is another major red flag. Unregulated brokers are not allowed to operate on heavily regulated markets like the EU, USA or Asutralia.

 

 

In its official warning the CNMV also noted that Olympius Global  is related to Olympus Markets – a notorious brokerage, blacklisted by both the Spanish financial regulator and the German BaFin. Actually, the German financial watchdog went as far as ordering the broker to cease its illegal operations in in the country.

 

Unproven web platform, high spreads

Now, this is not as important as the previous points, but it’s still a negative. Olympius Global uses a web-based trading platform that is always been associated with unlicensed brokerage firms. The options for customization are limited, there are no expert advisors, and barely any room for comparison with the industry leading MetaTrader4.

 

Click on the image to view larger.

 

Besides, as you can see from the above image, Olympius Global’s spreads are by no means lucrative for traders – fixed at 3 pips on EUR/USD.

 

 

>> Compare the spreads of top forex brokers <<

 

 

High minimum withdrawal amount

Furthermore, in Terms and Conditions uploaded on the broker’s website we read that one cannot withdraw any amount below $500 (via wire transfer), which is also unfavorable to traders. Given the fact that Olympius Global is most likely a scam broker, it would be surprising if it allows withdrawals at all.

 

 

Conclusion

 

Olympius Global is another brand of the scammers behind Olympus Markets, so we would advise readers to stay away from these brokers, as well as from any other unregulated forex provider.  Unfortunately, the forex trading world is full of fraudsters, and the only way to stay safe is to deal with brokers licensed by reputable financial regulators, that have set strict rules guaranteeing the investors’ safety of funds.

 

That being said, one of the most trustworthy authorities is the UK’s Financial Conduct Authority. You can find more information about regulation in the UK, as well as a list of licensed brokers below:

 

 

>> Trade with a FCA-regulated broker <<

 

 

And finally, here are the highlights of our review of Olympius Global:

 

Pros Cons
Generous leverage Anonymous and unregulated broker

Solid selection of assets

Blacklisted by the CNMV, related to another shady broker
  Unproven web platform
  Spreads not announced, high ones on the platform
  High minimum withdrawal amount

 

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Traders` reviews for Olympius Global

Spread

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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